PSR Provisionally Proposes to Cap Cross-Border Interchange Fees on Credit and Debit Cards to Protect UK Businesses
Fintech Finance
DECEMBER 13, 2023
The PSR is proposing to introduce a price cap to protect UK businesses from overpaying on these interchange fees. Subject to the PSR’s final report and further consultation on remedies, this could happen in two stages: An initial time-limited cap of 0.2% for UK-European Economic Area (EEA) consumer debit transactions and 0.3%
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