MasterCard Interchange Fee to Be Set at 0.3 Percent

0.3 percent seems to be the number that everyone prefers when it comes to credit card interchange fees. The number has been appearing at both regional and national levels in closed competition suits in the EU and has also been the chosen limit for the Interchange Fee Regulation.

Recently, MasterCard agreed to bring down its domestic Dutch interchange fee to 0.3 percent from an existing 0.9 percent over the next couple of years, as promised to the Authority for Consumers & Markets (ACM). In exchange for this reduction in the fee, the ACM agreed to withdraw an investigation into the credit card processing company. Earlier in 2007, MasterCard had also agreed to set its cross-border interchange fee to 0.3 percent until the European Court of Justice passes a judgment, after the European Commission prohibited its EEA interchange fees across borders.

Visa also had to lower its interchange fee in France to 0.28 percent as agreed with the French Competition Authority. Visa had committed to the European Commission to bring down its cross-border interchange fee to 0.3 percent, and amend its cross-border acquiring rules too. That is not all. 0.3 percent is also the number the European Commission has in mind as the cap for domestic and cross-border interchange fees for credit cards, which it will propose via a new Regulation on credit card interchange fees.

European Corporate Counsel is the author of this article on European union law. Find more information, about Eu law here

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European Corporate Counsel is the author of this article on Eu directive. Find more information, about Eu regulation here