ECONOMY - FINANCE - BUSINESS / (ae) payments

Definitive adoption of rules on MIF

Brussels, 20/04/2015 (Agence Europe) - On Monday 20 April, the Council of the EU definitively approved the rules capping multilateral interchange fees (MIF) for instant debit and credit card payments (see EUROPE 11271).

For all credit card payments, the ceiling has been set at 0.3% of the value of the transaction.

For all debit card payments, the ceiling has been set at 0.2% of the value of the transaction. However, for small national payments, the member states may, under certain...