Preserving interchange: from explicit to implicit MIF
The collective setting of interchange fees is interpreted by many competition authorities as collective price fixing. It is argued that the collectively set interchange fee is used to set a minimum price on the acquiring side of the market. So far, these concerns led to the introduction of regulatory regimes which basically meant that a kind of cost-based interchange was introduced. [...] The recent MasterCard decision of the EU Commission, however, seems to be more serious threat against interchange in general.