Central Banking

MEPs strike deal to cap card payment fees

Three-party schemes will not be subject to the cap

Negotiators for the European Parliament and European Council yesterday struck a deal that would impose a cap on fees charged by banks to merchants for processing retail payments.

The cap would apply throughout the European Union for both domestic and cross-border credit and debit card payments. Banks will be able to charge a maximum of 0.2% of the transaction value for debit cards and 0.3% for credit cards.

The parliament highlighted a number of issues with the current set-up, particularly that

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: