This week marks the 10th anniversary of the Interchange Fee Regulation (IFR), a key piece of legislation introduced to tackle anti-competitive pricing in retail payments. Ten years on, many of the core challenges in the card payments market persist, with prices continuing to rise. To mark this milestone, Ecommerce Europe, EuroCommerce, EACT (the European Association of Corporate Treasurers), EDPIA (the European Digital Payments Industry Alliance), and Independent Retail Europe are jointly calling on EU policymakers to review the IFR to address its limitations. The reopening of the IFR is an essential step to foster stronger competition, a more transparent, fairer, and efficient payments environment for the benefit of both EU consumers and businesses.
Read our statement here.