Interchange fee is a fee charged to non-cash transactions made with credit card. The amendment, which will come into force at the end of January, provides that in the case of debit card interchange rate is reduced to 0.2 per cent., And for credit – up to 0.3 percent. transaction value. This is the second recent initiative to a reduction in interchange rates – in July 2014. Reduced it to 0.5 percent.
Chairman of the Senate Finance Committee, Kazimierz Klein (PO), who was the originator of the amendment, stated in an interview with PAP that changes “ahead” EU laws have recently agreed by the European Parliament.
In mid-December 2014. Economic and Monetary Committee of the EP and Member States negotiators opted to interchange fees were accounted for on the same basis across the EU. According to EU arrangements for international transactions debit card interchange fee will be a maximum of 0.2 percent. transaction value. On the other hand, in the case of domestic transactions of this type of cards Member States may use up to 0.2 percent. the annual weighted average of all domestic transactions within the card system.
In the case of credit card transactions, the parties agreed that the interchange fee will be collected at the rate of 0.3 per cent. transaction value. The negotiators also agreed that the card company used for business purposes shall be exempt from the new rules. These rules would come into force within six months of their adoption.
In the opinion of Kleiny, realistic date when they could take effect is at least the third quarter of 2015. “In order to EU regulation could come into force need a few more important decisions. In January or February should be no consensus on national finance ministries. At the end of January or, more realistic in February should be taken by the EP resolution accepting the regulation. Given the six-month vacatio legis, the new rules come into effect at the end of 2015. ” – PAP said Senator PO.
“passed by us novella law on payment services is consistent with the objectives of the Union Regulation, except that it enters into force much earlier. This does not mean, however, that the rate of interchange will be with us lower than in other EU countries. Almost all EU countries the rates were already at this level, ie 0.2 and 0 3 per cent. ” – He pointed out.
“Our novel was not so much to a reduction in the rates of interchange, which agents conduct of the Polish market account “- said Klein.
Polish parliament decided in fact to the next – in such a short time – reducing interchange rate since January 2015. enter into force on the agreement between the European Commission and one of the organizations card – Visa Europe. According to it, all transactions carried out in our country by acquirers whose headquarters are located outside the Polish would be billed at the rate of just 0.2 and 0.3 percent. As a result, acquirers who have registered business in our country, would lose competitiveness. For them it would be a barrier interchange at 0.5 percent.
Recipes, which passed the Polish parliament, provides for the extension of the 3 to 5 year period in which the maximum interchange rate will not apply in the case of starting a business by a new organization that card. This provision is intended to contribute to the development of, among others, Polish card organizations.
Klein pointed out that both the novella our laws and EU regulation will have a positive impact mainly on the merchant card transactions, or the owners of shops and other points where you can pay with credit card.
“The reduction of these fees is largely in the interests of the merchant card transactions in our country, who pay relatively high prices for these charges, often dumps for them to its customers. It is difficult to assess whether the entry into force of the new rates will fall in prices of goods in the stores, “- said the senator.
” However, this should lead to an increase in the number of points, where we will be able to pay with credit card. It is especially for smaller merchants, such as. Boutiques and shops in housing estates located in smaller towns, “- he said.
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