Jul/090
Interchange Fee, illegal agreements?
The interchange fees are those costs that the bank of the buyer (customer) pays the issuing bank of POS (the merchant) for performing the transaction.
This cost represents between 70% and 90% of the costs to be incurred for the exchange of money between the parties, supported by a trader.
Now the authority is investigating possible antitrust agreements between banks and MasterCard banks MPS, BNL, Banca Sella, Barclays Bank, Deutsche Bank, Intesa Sanpaolo, ICBPI (Italian Central Institute of Popular Banks) and Unicredit.
One possible arrangement could include a higher interchange fee so that the issuing banks more and are encouraged to provide more MasterCard credit cards to collect more money.
A vicious circle that could be the basis of vertical and horizontal agreements. The first attempt to match the costs and not allow the competitive market, while the latter are designed on the appointment of the Italian Commission on the circuit Mastercard.
We will see what decision will be taken.
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