Brussels, 08/06/2015 (Agence Europe) - Regulation 2015/751 capping multilateral interchange fees (MIFs) for debit and credit card payments will be applicable from 9 December 2015 (see EUROPE 11298 and 11271).
For all credit card payments, the cap is set at 0.3% of the value of the transaction.
For all debit card payments, the cap is set at 0.2% of the value of the transaction. However, for small domestic payments, the member states may, under certain conditions, allow a charge per transaction which is less than or equal to 0.05 euros in conjunction with the 0.2% limit. And for a transitional period of five years, they will be able to apply the 0.2% cap calculated on the basis of the annual average value weighted by operation for all national operations within a card payment system.
MIFs are paid by the bank of a trader to the bank of the holder of the payment card used for the transaction. Other provisions of the regulation aim to increase competition to promote the entry of newcomers to this market.
See: http://ec.europa.eu/competition/publications/cpb/2015/003_en.pdf (Mathieu Bion)