Interchange Fees

The Interchange Fee Regulation was published in the Official Journal of the EU on 19 May 2015 and entered into force in June 2015.  It introduces a new set of business rules for payment card schemes along with caps for the interchange fees charged on card transactions.  It aims to create a payments environment which will nurture competition, innovation and security to the benefit of all stakeholders and consumers in particular.


Public Consultation

A public consultation on the national discretions ran from 19 May 2015 to 10 June 2015. In all, 20 written submissions were received. 

A copy of this public consultation can be found here: Interchange Fee Regulation Consultation

Responses to consultation can be found below:

AEX Consulting Submission

AvantCard Submission

Barry Group Submission

BPFI Submission

Chambers Ireland Submission

Coxs Cash and Carry Submission

CSNA Submission

Diners Club Submission

GFK Investments Submission

MasterCard Submission

Murphys Cash and Carry Submission

Musgraves Submission

Padraic Tuffy Limited Submission

Retail Excellence Ireland Submission

Retail Ireland Submission

RGDATA Submission

SFA Submission

Stone House Submission

SuperValu Carrickmacross Submission

VISA Submission


Budget 2016

Following the publication of the Interchange Fee Regulation in May 2015, the Minister for Finance announced in Budget 2016 that there would be a reduction in the interchange fees faced by retailers to 30 basis points for credit cards and 10 basis points for debit cards. The Minister’s speech is available here.



S.I. No. 292 of 2016

S.I. No. 550 of 2015