IF

Payments - cards - charges.

Interchange fee.

Interchange fees relate to credit cards, debit cards, and other cards.

UK to EEA online IFs rise - leading to competitive disadvantages

"The Payments Systems Regulator (PSR) published a Working Paper – Market review of UK-EEA cross-border interchange fees. Amongst its observations was that:

Mastercard and Visa have increased IFs for card-not-present (CNP) UK-EEA transactions using consumer debit and credit cards from 0.2% and 0.3% to 1.15% and 1.15% respectively and fees paid by acquirers increased by approximately £75 million to £100 million in the first half of 2022.

UK merchants who are selling online to EEA customers and are not able to relocate may find themselves at a competitive disadvantage compared with EEA competitors selling online to the same EEA customers."

Update on the Payments landscape – October 2023 - ACT Blog - Naresh Aggarwal.

See also

• Acquirer
• Card not present (CNP)
• Credit card
• Debit card
• European Economic Area (EEA)
• Interchange fee
• Mastercard
• Visa