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.
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Application of the IFR: phase 1 final guidance
We have published our final guidance for the parts of the Interchange Fee Regulation (IFR) that came into force by December 2015. -
Policy Statement 16/1: The application of the Interchange Fee Regulation in the UK - Phase 1
We received responses to our consultation from 27 stakeholders. -
PSR issues final guidance on EU payment card legislation
The Payment Systems Regulator (PSR) has today issued clear final guidance on new European legislation surrounding payment cards.