Ian Paisley – 2015 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Ian Paisley on 2015-09-16.

To ask Mr Chancellor of the Exchequer, what data was used to assess the effect on merchants of exempting three party card schemes from interchange fee regulation as part of the EU Multilateral Interchange Fees regulation.

Harriett Baldwin

The European Interchange Fee Regulation is directly applicable to UK law. The exemption for three party schemes was part of the European Commission’s original proposal, which can be found here:

www.eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52013PC0550&from=EN

The final Regulation was agreed by the European Parliament, the European Commission and the European Council in March this year.