According to the announcement, cards issued in other regions and used in face-to-face or cardholder-present transactions in EU travel retail stores will pay the same interchange fees as a card issued in Europe. Commercial cards are not covered, while remote sales (ecommerce and telesales) card transactions will have higher interchange fees.
According to TR Business, the two companies have offered to cap face-to-face transactions at 0.2% for debit and 0.3% for credit transactions, while online transactions will be capped separately at 1.15% for debit and 1.5% for credit.
EU interchange fees provide a default basic transaction charge between the cardholder and merchant’s banks. The EU recognised that these fees were not competitive outside European competition rules.
For more information about Mastercard Payment Gateway Services, please check out a detailed profile of this company in our dedicated, industry-specific online company database.
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