Treasury has published the government’s final approach to implementing the Interchange Fee Regulation, following its consultation on rules to cap the fees charged by banks to their business customers for processing credit and debit card payments (see FReD 31 July). These new rules introduce an EU-wide cap on the charges paid by a business when a customer pays for something using a card. For debit card transactions the government’s position remains that it will exercise the exemption for three party schemes which use issuers and acquirers. For credit card transactions the government’s position remains that interchange fees for domestic credit card transactions should be capped at 0.3% per transaction. (Source: Treasury Publishes Card Fees Response)