The cross border interchange fee rules become effective on 9 December.
This means that merchants (and hopefully consumers) should see the benefits of having capped fees applied with respect to cross border:
Credit card payments – interchange capped at 0.3%
Debit card payments – a limit applied at 0.2%.
Business rules become effective mid 2016
Not all of the new rules apply from 9 December. Many of the business rules are due to apply from 9 June 2016. Even though there is still some time for these new rules to apply, relevant parties should not be complacent to ensure that they will be in a position to comply.
Further details on the new rules can be found here.