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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
Version 3 of 3

Regulation 23 Weighted average interchange fees for UK debit card transactions

Until 9th December 2020 -

(a) payment service providers need not comply with Article 3(1) (maximum interchange fees for consumer debit card transactions) of the interchange fee regulation in relation to UK debit card transactions;

(b) payment service providers that do not comply with Article 3(1) of the interchange fee regulation in relation to UK debit card transactions must apply to such transactions within each payment card scheme a weighted average interchange fee of no more than the equivalent of 0.2% of the annual average transaction value of all UK debit card transactions within that scheme.