Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/154584
Authors: 
Börestam, Ann
Schmiedel, Heiko
Year of Publication: 
2011
Series/Report no.: 
ECB Occasional Paper 131
Abstract: 
The present paper explores issues surrounding multilateral interchange fees (MIFs) in payment card markets from various angles. The Eurosystem’s public stance on interchange fees is neutral. However, the Eurosystem takes a keen interest in facilitating a constructive dialogue among the stakeholders involved in this debate. Transparency and clarity with respect to the real costs and benefi ts of different payment instruments are indispensable for a modern and harmonised European retail payments market. Interchange fees (if any) should be set at a reasonable level so as to promote overall economic effi ciency in compliance with competition rules.
Subjects: 
interchange fees
retail payment systems
Trade credit and debit cards
two-sided markets
JEL: 
C43
E31
Document Type: 
Research Report

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