A new regulatory framework is emerging for the credit card industry. The European Union recently issued the Payment Services Directive to implement the Single Euro Payments Area, a set of rules aimed at governing payment services carried out in the European market. Its provisions will also apply to credit card payments. The credit card industry, traditionally self-regulated, has been at the core of several antitrust actions in Europe and abroad, particularly in the United States. The mechanism for determining the interchange fee – as well as terms such as the no-discrimination rule and the honour-all-cards rule – have been investigated and, in several cases, forbidden. As the analysis becomes more sophisticated, more implications emerge for business operators. The aim of this article is to show that the new regulatory framework is made by directive as well as by case law and by the provisions of agencies concerning the credit card industry.

The Credit Card Industry’s New Regulatory Framework: An Ongoing Dialogue across the Ocean

GRANIERI, MASSIMILIANO
2012

Abstract

A new regulatory framework is emerging for the credit card industry. The European Union recently issued the Payment Services Directive to implement the Single Euro Payments Area, a set of rules aimed at governing payment services carried out in the European market. Its provisions will also apply to credit card payments. The credit card industry, traditionally self-regulated, has been at the core of several antitrust actions in Europe and abroad, particularly in the United States. The mechanism for determining the interchange fee – as well as terms such as the no-discrimination rule and the honour-all-cards rule – have been investigated and, in several cases, forbidden. As the analysis becomes more sophisticated, more implications emerge for business operators. The aim of this article is to show that the new regulatory framework is made by directive as well as by case law and by the provisions of agencies concerning the credit card industry.
File in questo prodotto:
File Dimensione Formato  
Banking and Finance Law Review1.pdf

gestori archivio

Tipologia: Documento in Post-print
Licenza: DRM non definito
Dimensione 9.41 MB
Formato Adobe PDF
9.41 MB Adobe PDF   Visualizza/Apri   Richiedi una copia

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11379/466513
 Attenzione

Attenzione! I dati visualizzati non sono stati sottoposti a validazione da parte dell'ateneo

Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus ND
  • ???jsp.display-item.citation.isi??? ND
social impact