The main objectives of Regulation (2015/751), which caps multilateral interchange fees (MIFs) for credit and immediate debit card payments, have been achieved, such that legislative reform is not necessary at this stage, says the European Commission in a report it published on Monday 29 June.
MIFs are commissions paid by a merchant’s bank to the bank of the cardholder of the payment card used in a transaction.
On the basis of an external study published in March(see EUROPE B12444A10), the...