The Interchange Fees for Card-Based Payment Transactions Regulation (EU) 2015/751 (IFR) aims to facilitate the creation of a single market for card payments across the EU, by ensuring a level playing field that facilitates greater competition between card schemes as well as between processing services providers. To that end, Article 7(6) IFR conferred on the EBA the mandate to develop draft RTS establishing the requirements with which payment card schemes and processing entities have to comply to ensure the independence of their accounting, organisational and decision-making processes.
Published date: 27 July 2016
