The Spanish Competition Authority approves the interchange fee setting scheme proposed by the Spanish payment card systems (Euro 6000 / Servired / 4B System)

Merchant associations pressed charges a year ago against the three Payment Card Systems which operate in Spain (EURO 6000, SERVIRED and 4B System), for their multilateral agreement setting interchange fees (Inter-System interchange fees). Interchange fees are fees paid by banks servicing merchants (acquiring entities) to banks issuing cards (issuers) with respect to transactions between their respective customers, i.e., merchants and cardholders. On November 16, these trade associations, the three Payment Card Systems and the Spanish Competition Authority (Servicio de Defensa de la Competencia, SDC henceforth) signed an “Agreement of Conventional Termination”, ending the dispute. This agreement has been reached thanks to the parties' acceptance of the “Framework Agreement for

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Elvira Muñoz Villar, Soledad Pereiras, The Spanish Competition Authority approves the interchange fee setting scheme proposed by the Spanish payment card systems (Euro 6000 / Servired / 4B System), 16 November 2006, e-Competitions November 2006, Art. N° 12649

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