National Council wants to ban interchange fees for debit cards
Published: Wednesday, Feb 28th 2024, 13:30
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Interchange fees should no longer be charged when paying with debit cards. The National Council has adopted two motions calling for a ban on this fee. The Federal Council refers to ongoing investigations by the Competition Commission.
On Wednesday, the National Council supported two motions by Jacqueline de Quattro (FDP/VD) and Vincent Maitre (center/GE). Now the Council of States has to deal with them.
Both motioners criticized the fact that the recently introduced debit cards from major providers were too expensive for merchants who accepted the payment method due to fees. In the end, these costs would fall back on the customers, said Maitre in the Council.
The interchange fee is a fee that a Swiss card issuer - usually a bank - receives from the payment processor when the credit cards it issues are used. The fee is ultimately paid by the merchant. It is one of several components of the merchant commission.
The Competition Commission (ComCo) has had its eye on debit card fees for some time. In June 2023, it launched an investigation into the card providers Visa and Mastercard in connection with debit cards. The aim was to reduce the interchange fees or interbank fees, the ComCo wrote at the time.
In its negative statement, the Federal Council also refers to the work of the Competition Commission and the price watchdog. Both authorities had already successfully intervened on several occasions. The legal instruments were sufficient, said Economics Minister Guy Parmelin.
©Keystone/SDA
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