Amex, Interchange And PSD2: A Brief History

The Court of Justice of the European Union (CJEU) issued two separate but related rulings last week involving American Express. PaymentsCompliance examines why Amex lost its battle to be exempt from interchange fee caps when partnering with other businesses, but was granted a partial reprieve from newly introduced scheme access rules.

Amex had argued that restrictions introduced by the EU Interchange Fee Regulation (IFR) should not apply where it has formed co-branding or agency arrangements with another business, provided that business is not itself involved in issuing or acquiring.

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