Posts Tagged ‘interchange’

Today the European Commission released its long awaited study into the cost of merchants accepting cash and card payments. A copy of the preliminary presentation can be found here. It’s long awaited for a number of reasons. Firstly, it is supposed to finally address the issue of comparing actual costs. Whilst there have been many […]

Feb 19th, 2014 | Filed under Banking, Corporate Banking, Retail Banking

We already talked on this blog site about the latest proposals by the European Commission to regulate the cards business – see Gareth’s and my posts on this topic. However, I wanted to come back to a couple of points, namely: the decision to cap debit and credit interchange to 0.2% and 0.3% of the […]

Sep 3rd, 2013 | Filed under Banking, Retail Banking

I said last year that I can’t really take a summer vacation – too many things seem to happen in payments while I am away. This year was no different with many interesting stories to catch up with from new chiefs at MCX and Visa Europe to PayPal trying out check-in payments in the UK to the latest […]

Aug 9th, 2013 | Filed under Banking, Retail Banking

On Wednesday, July 24th, the European Commission will publish 2 widely anticipated documents. The first is the PSD II, updating the existing PSD (Payment Services Directive). The second is a new piece of proposed legislation around interchange. Interchange in Europe has long been an area of focus for the Commission, with over 30 significant investigations […]

Jul 22nd, 2013 | Filed under Banking, Corporate Banking, Retail Banking

London Olympics are in full swing, and so far it’s been a tremendous success. I thought the opening ceremony was absolutely breathtaking – it was creative, ambitious, beautiful and yet so different from everything else we’ve seen. After Beijing, most people said it would be difficult to surpass the sheer scale and grandeur of that […]

Aug 2nd, 2012 | Filed under Banking, Retail Banking

Just as PayPal in the US was gearing up to challenge the established order of payment networks (see my previous blog), on the other side of the Atlantic, MasterCard (MA) received news that the European General Court upheld a decision by the European Commission (EC) that the scheme’s multilateral interchange fees (MIF) violate EU antitrust […]

May 25th, 2012 | Filed under Banking, Retail Banking

That was the question someone asked me last week at an ATM, Debit and Prepaid Forum. I know – it was in Vegas, the person was joking and the question is really a rethorical one. And yet, it kind of rings true, because no one seems to be happy with the new regulation. Except, of […]

Nov 10th, 2011 | Filed under Banking, Retail Banking

Finally, the wait is over. Yesterday (June 29th), the Fed’s Board approved and announced the final version of Regulation II, known in the payments industry as the Durbin amendment, which sets out the rules for debit card transactions. Financial institutions feared the worst after the initial proposals annouced in December last year. Today, banks can […]

Jun 30th, 2011 | Filed under Banking, Retail Banking

Over the weekend I read an open letter by Senator Durbin to JP Morgan Chase CEO Jamie Dimon regarding interchange fees. In the letter Senator Durbin sets outs his arguments for why the Senate was compelled to introduce debit interchange regulation, which overall makes a very interesting reading. One paragraph especially caught my eye (my […]

Apr 18th, 2011 | Filed under Banking, Retail Banking