Impact of the European Regulation in the Area of Interchange Fees for Executing Card-Based Transactions

Otakar Schlossberger

Abstract

Paying for goods or services by credit cards is becoming more extended. This fact can be accepted very positively. According to the European Commission, however, the payment services market remains very fragmented and inconsistent among other things due to the fact that they are used on the card issuers or as well as its processors interchange fees. Therefore, the European Commission carried out to issue a proposal Regulation on the interchange fees, which complements an amendment to the Directive on payment services in the internal EU market. The Commission's proposal is including the introduction of a maximum amount of interchange fees for debit and credit payment card.

This paper will deal with the issue whether the proposal of pan-European regulation can be seen as a positive step for the development of the payments made by credit card or not. It will further include assess of the impact of upcoming regulation on the individual market.

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