Interchange Fee Rules are in force from 9 December

interchange fee rules photo

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.


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