Interchange Fee Regulation (IFR) Definition.

Regulation (EU) 2015/751: caps interchange on consumer cards (0.2% for debit, 0.3% for credit), requires schemes to keep separate accounts for their processing activities, guarantees the choice of application on co-badged cards, and requires acquirers to itemize their fees for merchants. Commercial cards and pure three-party schemes are exempt from the caps. It drove down the cost of acceptance, partly offset by rising scheme fees.

See also

→ Interchange→ Co-badged card→ Commercial card

Where this term appears

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