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Guidance on the PSR’s approach as a competent authority for the EU Interchange Fee Regulation

Published 24 03 2016
Last updated 30 03 2016

This document contains guidance on our approach to monitoring compliance with the Interchange Fee Regulation (IFR) provisions capping interchange fees or equivalent issuer compensation (Articles 3, 4 and 5) and business rules provisions that were brought into force by 9 December 2015 (Articles 6, 11 and 12).

It also includes guidance on our powers and procedures under the IFR as well as guidance on penalties for non-compliance with the IFR.

Note: An updated version was published on 30 March 2016 which corrected some errors in the descriptions of the scheme diagrams in Chapter 2.