Interchange fees in card payments

With the establishment of the Single Euro Payments Area (SEPA), there will be no difference in the euro area between national and cross-border retail payments. SEPA will strengthen European integration and is aimed at fostering competition and innovation, and at improving conditions for customers. With the united efforts of the European banking community, legislators and the central banking community, SEPA made a successful start with the introduction of the SEPA credit transfer in 2008 and the SEPA direct debit in 2009. However, in addition to SEPA credit transfers and direct debits, the focus is now moving to the third pillar of SEPA, namely SEPA for cards.