Interchange fees in card payments

Ann Börestam () and Heiko Schmiedel ()
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Ann Börestam: European Central Bank, Kaiserstrasse 29, 60311 Frankfurt am Main, http://www.ecb.europa.eu/home/html/index.en.html
Heiko Schmiedel: European Central Bank, Kaiserstrasse 29, 60311 Frankfurt am Main, http://www.ecb.europa.eu/home/html/index.en.html

No 131, Occasional Paper Series from European Central Bank

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. JEL Classification: G21, D43, L13

Keywords: Trade credit and debit cards; retail payment systems; two-sided markets; interchange fees (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ban, nep-cis and nep-com
Date: 2011-10
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