Bank Cards: Fees and Charges
(asked on 16th September 2015) - View Source
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what data was used to assess the effect on merchants of exempting three party card schemes from interchange fee regulation as part of the EU Multilateral Interchange Fees regulation.
This question was answered on 12th October 2015
The European Interchange Fee Regulation is directly applicable to UK law. The exemption for three party schemes was part of the European Commission’s original proposal, which can be found here:
www.eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52013PC0550&from=EN
The final Regulation was agreed by the European Parliament, the European Commission and the European Council in March this year.