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Payment
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Tuesday
29
September
2020

Divergent views on a possible revision of the 2015 Interchange Regulation

The latest edition of Oaklen Consulting's Industry Watch highlights the latest developments in the interchange regulation

  • The study commissioned by the European Commission from EY and Copenhagen Economics to assess the impact of the interchange regulation concludes that it has had the desired effect by generating a €2.7 billion reduction in interchange fees at the European level over a full year (i.e. 35% of the amount of interchanges settled in 2015).
    However, less than half of this reduction (€1.2 billion) was passed on to merchants in the form of lower merchant fees.
    Merchants passed on nearly 60% of this decrease (€0.8 billion) to the end consumer in the form of lower prices.
    The study highlights several areas for optimization to achieve a "satisfactory" level of competition on merchant fees, such as monitoring scheme fees or further standardization of protocols and materials to simplify the change of acquirer.


  • Eurocommerce does not share the same point of view and considers that:
    - the fees excluded from the regulation (scheme fees, commercial cards, 3 corners system) have been increased by the card schemes with such intensity since 2015 that the benefits of the decrease of the interchanges are strongly questioned
    - the incentives paid to the acquirers and issuers, as well as the sale of Visa Europe constitute "disguised interchanges".
    Eurocommerce would therefore like to see a strengthening of the interchange regulation so that:
    - it covers all the fees charged by the acquirer and not only the interchange
    - the exemptions (commercial cards, 3 corner systems, ...) are removed.

For more information and the complete watch: contacteznous@oaklen.eu

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