Industry Group Criticises EU Interchange Reforms, Takes Aim At Visa, Mastercard

An influential industry group has said EU-wide controls on interchange fees have failed to inject competition into the payments sector, urging the European Commission to narrow its focus to card giants Visa and Mastercard.

The European Payment Institutions Federation (EPIF) published a position paper on Wednesday setting out what it would like to see from the commission’s upcoming review of the 2015 reforms.

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