On March 10, 2015, the European Parliament published a press release announcing that it has adopted the proposed Regulation on interchange fees for card-based payment transactions (MIF Regulation). The adopted text has not yet been made publicly available.
Among other things, the MIF Regulation is intended to lead to transparent fee-capping for cross-border and domestic retail purchases. It is hoped that the lower costs will benefit retailers and shoppers.
The MIF Regulation now needs to be formally adopted by the Council. The press release states that the MIF Regulation should apply six months after its entry into force. Press Release.
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