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CP19/5 - Responses to our discussion paper on the LINK interchange fee structure and summary of our roundtable discussion

Published 05 09 2019

Having a good choice of how to make payments, in ways that work for everyone, is important for all of us. Our overall objective is to support cash access which meets the needs of anyone making payments, including widespread geographic access for UK consumers who need or want to use it as a payment method.

In June, we published a discussion paper to look at the structure of the LINK interchange fees

That paper was specifically focussed on the structure of interchange fees, rather than the level of those fees. We were seeking views and evidence on:

  • The description and framework for considering the costs of providing ATMs and the value they provide, including the objectives we set out in the paper 

  • Whether there are any other factors we should take into account when analysing the incentives to provide ATMs.

  • What incentives and impacts the existing LINK interchange fee arrangements, as described in the paper, have

  • What structure of interchange fees would have appropriate incentive effects going forward

We received a number of responses and hosted a roundtable event, attended by industry, consumer groups and other regulatory bodies. 

Here, we publish the responses to our call for views and a summary of the roundtable discussion. 

In addition to our work on the structure of the interchange fees, we also published a Call for Views on our research into cash access, use and acceptance. A further stakeholder roundtable discussion will take place in October to discuss some of those initial responses.
 
We will take the submissions to both Calls for Views, along with the discussions with stakeholders at our roundtable events, to further help shape our understanding and inform our work. We will continue to update stakeholders on the key focus areas for taking forward the different strands of our work in this area, and engage with stakeholders throughout.