Database on German and European Economic Law

 Regulation (EU) No 2015/751

I. Description

This regulation caps interchange fees. It increases transparency on fees thus permitting retailers to know the level of fees paid when accepting cards. It enhances competition by providing consumers with more and better choices between different types of payment cards and service providers.

Specifically, the regulation:

  • caps interchange fees at 0.2 % of the transaction value for consumer debit cards and at 0.3 % for consumer credit cards;
  • as regards consumer credit cards, allows EU countries to define percentage caps lower than 0.3 %;
  • as regards consumer debit card transactions, allows EU countries to impose a fee of no more than 5 eurocents per transaction interchange fee in combination with the 0.2 % cap;
  • provides for a limited number of exemptions, such as business cards used only for business expenses being charged directly to the account of the company;
  • increases transparency on the level of fees paid by retailers, thus enabling them more easily to select which payment cards to accept.

The regulation is part of a package that includes also the  Directive on Payment Services II, on which political agreement was reached in May 2015. The package aims to promote the digital single market by making payments safer and cheaper and paves the way for innovative payment technologies.

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II. General Information

Title

Regulation of the European Parliament and of the Council of 29 April 2015 on interchange fees for card-based payment transactions

Abbreviations
MIF Regulation
Status
Existing
Regulation
(EU) No 2015/751
Source
O.J. EU No L (Legislation), Edition 123, Year 2015, p.1
Adoption
04/29/2015
Promulgation
05/19/2015
Character
Regular Act
Legal Basis
Art. 114 AEUV
Legislative Procedure
Codecision procedure

III. Versions and Legislative History

1. Versions

Titel
Allg. Daten
Textfassung

Original Text MIF Regulation:
Regulation of the European Parliament and of the Council of 29 April 2015 on interchange fees for card-based payment transactions

  (EU) No 2015/751

Beschluss:
04/29/2015 (A)
Verkuendung:
05/19/2015 (P)
(A) Adoption | (P) Promulgation

2. Legislative History

Datum
Typ / Titel
Textfassungen
02/05/2014
Opinion of the European Central Bank
ABL 2014/C 193/2
12/11/2013
Opinion of the European Economic and Social Committee
ABL 2014/C 170/78
07/24/2013
Proposal
COM(2013) 550 final

3. Comments

Datum
Stellungnahme
Textfassungen
03/24/2014
Centrum für Europäische Politik (cep)
Comment on: Kommissionsvorschlag
11/07/2013
Die Deutsche Kreditwirtschaft (DK)
Comment on: Kommissionsvorschlag

Legend

Legislative Act Status

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Overview

I. Description
II. General Information
III. Versions and Legislative History
1. Versions
2. Legislative History
3. Comments