Payments News

EU Says Card Fee Caps Are Working

Jun 30, 2020

Caps on the fees retailers pay to process debit and credit card transactions have helped push down prices, EU antitrust regulators said on Monday, June 29, but merchants called for even tighter limits. 

The Interchange Fee Regulation (IFR), which was triggered by a lengthy battle between retailers and payments groups including Visa and Mastercard, limits debit card fees at 0.2% of the transaction value, reported Reuters. 

“Interchange fees for consumer cards have decreased, leading to reduced merchants’ charges for card payments, and ultimately resulting in improved services to consumers and lower consumer prices,” the European Commission stated in a report.

By CPI

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