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The interchange fees regulation
What is it about?
Payment cards are one of the most important
means of retail payments, especially for cross-border
and internet purchases. Payments are estimated by
the ECB1 to represent a total cost to society of about
1% of GDP or EUR 130 billion per year. Revenue from
payments is estimated at about 25% of total bank
revenue in the EU 2 .Whereas in some countries
payment card transactions still represent a small
share of point of sale retail transactions (Italy 7%,
Romania and Greece 2%) 3 , in other countries this
goes up to 66% (Netherlands), 69% (UK) and 72%
(Sweden)4
.
Interchange fees a