(1) The Payment Card Interchange Fee Regulations 2015 [S.I. 2015/1911.] are amended as follows.

(2) In regulation 2(1) (interpretation) -

(a) after the definition of "the 2013 Act" insert -

""card-based payment transaction" means a service based on a payment card scheme's infrastructure and business rules to make a payment transaction by means of any card, telecommunication, digital or IT device or software if this results in a debit or a credit card transaction, but does not include transactions based on other kinds of payment services;

"co-badging" means the inclusion of two or more payment brands or payment applications of the same brand on the same card-based payment instrument;";

(b) in paragraph (b) of the definition of "compliance failure", at the end insert "or 4A";

(c) in the definition of "general direction" at the end, insert "or 4A(8)";

(d) after the definition of "general guidance" insert -

""interchange fee" means a fee paid for each transaction directly or indirectly (including fees paid through a third party) between the issuer and the acquirer involved in a card-based payment transaction, and includes the net compensation or other agreed remuneration;";

(e) after the definition of "the interchange fee regulation", insert -