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Impact of the Interchange Fee Regulation on the European cards market – 18 months on
It is now almost 18 months since the introduction of the Interchange Fee Regulation. IFR covered a good deal more than the interchange fee caps and included substantial changes to the business rules for cards acceptance and processing frameworks. So, has implementation been effective and more importantly have there been unintended consequences? asks Peter Jones, Managing [...]
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Interchange Fee caps shaking up the market for acquirers
The merchant acquiring market in Europe is operating on solid grounds of continuous transaction growth, however the cost pressures in the industry increases are very high primarily due to new regulation, such as PSD2 and Interchange Fee regulation. The new Interchange (IC) regulation that came into effect end of 2015 means that across Europe a [...]
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Six months after interchange regulation: have card products changed?
First Annapolis has been closely monitoring the product offerings of the top issuers in several European markets in order to gauge issuers’ reactions to the interchange decreases that went into effect in December 2015 (see Figure 1). Issuers’ immediate responses to reduced interchange revenues included rationalizing their product set, reducing rewards, and increasing APRs and [...]
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The impact of the interchange fee regulation: a Processor view
Last April, the European Parliament and the Council of the European Union adopted a new Interchange Fee Regulation (IFR) capping interchange fees for payments made with debit and credit cards. While the main goal is to create a harmonised Europe-wide payments market, this Regulation also aims to help cardholders make informed decisions when it comes [...]
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The impact of the interchange fee regulation – a card scheme view
European payments are being hit by several disruptive forces, including heightened levels of innovation, competition and regulation. One of the more significant changes is the European Union Regulation on the Interchange Fee for card based transactions, also known as the IFR. This article will not describe what is in the Regulation as plenty of literature [...]
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