EDPIA believes that the overall impact of the IFR is positive, and that a legislative review is premature.
Brussels, 24 June 2020 – EDPIA has just published its views on the impact of the 2015 EU Interchange Fee Regulation (“IFR”), a crucial piece of the regulatory framework for card-based payments in Europe. We believe that overall the IFR has had a positive impact on the card-based payments landscape in Europe, and that it is not the right moment to pursue a legislative review due to the fundamental changes the payments industry is currently undergoing. That said, EU policy makers should be vigilant that the benefits of lower interchange fees are not eroded by rising card scheme fees.
This paper comes ahead of an expected report by the European Commission assessing the impact of the IFR on the EU, its businesses, and its consumers, which could be followed by a legislative proposal to review the legislation itself.
A link to the full paper can be found below: