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http://ssrn.com/abstract=1927925
 
 

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Interchange Fees in Card Payments


Ann Borestam


European Central Bank (ECB)

Heiko Schmiedel


European Central Bank - Securities Settlement Systems Policy Division

September 15, 2011

ECB Occasional Paper No. 131

Abstract:     
The present paper explores issues surrounding multilateral interchange fees (MIFs) in payment card markets from various angles. The Eurosystem’s public stance on interchange fees is neutral. However, the Eurosystem takes a keen interest in facilitating a constructive dialogue among the stakeholders involved in this debate. Transparency and clarity with respect to the real costs and benefi ts of different payment instruments are indispensable for a modern and harmonised European retail payments market. Interchange fees (if any) should be set at a reasonable level so as to promote overall economic efficiency in compliance with competition rules.

Number of Pages in PDF File: 58

Keywords: Trade credit and debit cards, retail payment systems, two-sided markets, interchange fees

JEL Classification: G21, D43, L13

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Date posted: October 10, 2011  

Suggested Citation

Borestam, Ann and Schmiedel, Heiko, Interchange Fees in Card Payments (September 15, 2011). ECB Occasional Paper No. 131. Available at SSRN: http://ssrn.com/abstract=1927925

Contact Information

Ann Borestam (Contact Author)
European Central Bank (ECB) ( email )
Kaiserstrasse 29
Frankfurt am Main, D-60311
Germany
Heiko Schmiedel
European Central Bank - Securities Settlement Systems Policy Division ( email )
Directorate General Payment Systems
Kaiserstrasse 29
D-60311 Frankfurt am Main
Germany
+49-69 13 44 70 59 (Phone)
+49-69 13 44 60 00 (Fax)
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