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Credit and Debit Card Interchange Fees in Various Countries Levels of interchange fees for credit and debit cards among countries in Europe, Asia, Oceania, North America, South America, and Africa are shown for the current year Released each August Interchange fees for previous years (since 2012) are also available
Capping fees for card-based payments: Regulation adopted Caps for debit and credit cards The following maximum levels for interchange fees will apply as from 6 months after entry into force of the regulation: for all credit card transactions, 0 3% of the value of the transaction; for all debit card transactions, 0 2% of the value of the transaction
EU cap on interchange fees for card-based payments Within a transition period until 9 December 2020, Member States may allow payment service providers to apply a weighted average interchange fee of no more than the equivalent of 0 2% of the annual average transaction value of all domestic debit card transactions within each payment card scheme
Interchange Fees | Visa The level of interchange, in most cases, is a small ad valorem percentage of the total transaction amount This fee is set by Visa and has traditionally varied by the type of transaction, the product involved and from country to country
EU regulations increase transparency of card-based payments The Regulation caps interchange fees for 'four party' schemes at 0 2% of each debit card transaction and 0 3% of each credit card transaction for both cross-border and domestic transactions
Mastercard Interchange Rates Explained: The Guide For instance, in the European Union, interchange fee caps introduced under the Interchange Fee Regulation (IFR) limit domestic debit card rates to 0 20% and credit card rates to 0 30% These regulatory adjustments ensure transparency but also impact how interchange fees evolve over time
01 2024 | Economic and Monetary Affairs - ECON | INTERCHANGE FEES FOR . . . The level of interbank fees varies substantially from one Member State to another Although the amount of the fees might seem small for a given consumer, the amounts concerned are immense at industry level The European Commission’s proposal was published on 24 July 2013
European Competition Commission Gets it Right with Payments Legislation? National level card schemes – largely debit - were created which worked within their own country As the European Union developed and there was a need for payment systems to work across borders, the international schemes stepped in to link all the systems up