Antitrust & Competition Policy Blog

Editor: D. Daniel Sokol
University of Florida
Levin College of Law

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Wednesday, November 23, 2011

Interchange Fees in Card Payments

Posted by D. Daniel Sokol

Ann Borestam, European Central Bank (ECB) and Heiko Schmiedel, European Central Bank - Securities Settlement Systems Policy Division have written on Interchange Fees in Card Payments.

ABSTRACT: The present paper explores issues surrounding multilateral interchange fees (MIFs) in payment card markets from various angles. The Eurosystem’s public stance on interchange fees is neutral. However, the Eurosystem takes a keen interest in facilitating a constructive dialogue among the stakeholders involved in this debate. Transparency and clarity with respect to the real costs and benefi ts of different payment instruments are indispensable for a modern and harmonised European retail payments market. Interchange fees (if any) should be set at a reasonable level so as to promote overall economic effi ciency in compliance with competition rules.

http://lawprofessors.typepad.com/antitrustprof_blog/2011/11/interchange-fees-in-card-payments.html

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