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Interchange fees: necessary condition to the payment market´s efficiency?
On 24 July, the European Commission presented its proposal aiming at reforming the payment cards system in Europe. On 28 August, on the Huffington Post in France, the EU Commissioner in charge of this reform, Michel Barnier, defended the idea that his reform will not penalize consumers . The general reduction of the interchange fees (which represent the transfer from the merchant´s bank to the consumer´s when the latter pays by card) is one of his reform´s key pillars.