Bloomberg – 7/16/13: Banks and payment card providers would face caps on the transaction fees they can demand from retailers under European Union plans to rein in charges that have been attacked by regulators as anticompetitive. The European Commission, the 28-nation EU’s executive arm, will propose that interchange fees paid by retailers on card transactions should be capped at 0.2 percent for debit card payments and 0.3 percent for credit cards, according to draft plans obtained by Bloomberg News. The caps would initially apply to cross-border transactions, and then be expanded to also cover domestic payments after two years.
Click here to read more: http://www.bloomberg.com/news/2013-07-17/eu-plans-card-fee-caps-to-build-on-mastercard-visa-probe.html

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Source: Paymentspulse