Letter on the European Commission's Legislative Package on Interchange Fees in Credit Card payments [COM(2013) 550-2013/0265 (COD)]

Abstract

In July 2013 the European Commission published its Legislative Package with proposals on a revised Payment Services Directive (PSD II) and on a Regulation on interchange fees for card-based payment transactions (ICF). The ICF-regulation comes after years of several single competition enforcement procedures and will cap the amount of interchange fees that are paid by the merchant’s bank to the cardholder’s bank. Banks with (corporate) credit card portfolios as well as independent, specialized issuers of corporate credit cards need to follow up on the Legislative Package's lawmaking process and ensure a level playing field in their market segment.