Multilateral interchange fees : London and Paris voice concerns

Negotiations at expert level, which will certainly continue at the end of the week, will focus on the controversial draft regulation imposing limits on multilateral interchange fees (MIFs). These are fees charged between the consumer’s and the retailer’s bank during card payment transactions. MIFs are fixed by card companies such as MasterCard and Visa - which between them own 96.8% of the European market, according to the Commission. This is the most widely used model of payment, and it is…