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Antitrust

The Interchange Fees Regulation in a rapidly evolving payment landscape

On 7 December 2020, DG Competition organized a public hearing (in virtual format) on “The Interchange Fees Regulation in a rapidly evolving payment landscape: Impact and way forward”. The hearing is designed to provide input to the Commission's ongoing reflection process about the impact of the Interchange Fees Regulation (IFR) and how it can continue to serve European consumers and merchants while contributing to the further completion of the Internal Market in a fast-changing retail payments sector.

Please find the programme for the Hearing. Registration is closed.

The public hearing will bring together a broad range of stakeholders (payments industry, merchants, consumers and public authorities) to discuss a range of topics, including caps on interchange fees and other fees, the business and transparency rules, and recent developments and market dynamics in retail payments, and how these might impact policy considerations going forward. Please find more about the speakers here.

The link to the FULL RECORD OF THE HEARING.

The results of the Slido polls conducted during the Hearing are as follows:

IFR_results_1
IFR_results_2
IFR_results_3

Please send your additional feedback or comments at COMP-D1-HEARING-IFR@ec.europa.eu.

The hearing follows the publication by the Commission, on 29 June 2020, of a Report on the impact of the Interchange Fees Regulation. Please find this Report and the underlying study here.

Based on extensive fact finding and analysis via a comprehensive Study commissioned by the European Commission, information collected from stakeholders and the input of National Competent Authorities, the Report concludes that the IFR has achieved its major objectives, including reduced merchant charges and improved market integration. However, at this stage of the implementation of the IFR, continuous robust enforcement, further monitoring and data gathering over a longer period are necessary to comprehensively assess the impact of the IFR, before possibly deciding on the need for a legislative review.