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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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A note from the PSR on domestic interchange fee caps in the UK
In a recent note from the Payment Systems Regulator (PSR) on domestic interchange fee caps in the UK, issued on the 19 November 2015 the PSR said: we issued an information request about the value of UK domestic debit and credit card transactions. This was to help us calculate the market share of three-party card schemes that may [...]
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The impact of the interchange fee regulation: a Bank view
The ways in which we pay and are paid are changing. Apple Pay has been launched in the UK, Barclays has announced that it will launch Android-based mobile payments later this year, and we expect Samsung and Android ‘Pays’ soon. ‘Omnichannel’ has moved from being a buzzword to a reality, as people buy using not [...]
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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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