Central Banking

ECB paper reviews euro area credit card interchange fees

Euro sign, Frankfurt

Interchange fees on credit card payments should be set at a reasonable level in order to promote overall economic efficiency in compliance with competition rules, according to a European Central Bank paper, published on Friday.

Ann Börestam and Heiko Schmiedel, the paper's authors, explore issues surrounding multilateral interchange fees in Europe. The authors note that payment cards have become the non-cash payment instrument used most in Europe, and warn that a sharp increase in cardholder

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