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This report is the first independent study into interchange fees for card transactions worldwide. It provides a detailed analysis of the rationale
for and implementation of these fees, and their impact on the dynamics of the cards business.
Dear Executive,
Interchange fees on card transactions amount to over $34 billion per year worldwide, a massive transfer of funds between banks and other financial
institutions that has an important impact on the cards business, merchants and consumers.
Interchange Fees Are Coming Under Ever Increasing Scrutiny
Merchants in many countries have complained to regulatory and competition authorities about the nature and level of interchange fees, and the fees
are currently under investigation in Australia, the European Union, the United Kingdom and the United States. To date, regulatory and competition
authorities have not forbidden interchange fees, but the rationale for interchange and the level of fees are coming under increasing scrutiny. Any
enforced changes to interchange fees would have a dramatic impact on the profitability and strategies of different parts of the card business.
Independent High Quality Research Now Available
Independent information and analysis is vital for card payment schemes, banks and others in responding to enquiries from regulatory and
competition authorities and in helping to develop their card strategies for the 21st century. RBR has completed the most in-depth independent analysis
of interchange fees ever undertaken. The study involved extensive primary and secondary research over a three-year period. Interviews were conducted
with, and information and data obtained from, international and national card payment schemes, banks, retailer organisations and regulatory bodies in
Australia, Europe and North America. The results of this research and analysis are now available in a comprehensive 500 page report. The report
provides a detailed and independent analysis of the rationale for and implementation of interchange fees for card transactions, and their impact on
the dynamics of the card business. It draws on examples and developments from around the world.
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