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EU card-fee caps must be expanded to Amex and all charges on merchants, retailers say

By Jack Schickler ( May 14, 2020, 08:00 GMT | Insight) -- Caps on EU credit-card fees should apply to all charges imposed on merchants and remove loopholes for American Express cards, cash machines and company-provided cards, an influential retail industry lobby group has told the European Commission. EU laws from 2015 that cap the interchange fees that banks can impose on the likes of Visa and Mastercard aren’t fit for purpose, said EuroCommerce, which represents retailers including Amazon, Ikea and Carrefour.Caps on EU credit-card fees should apply to all charges imposed on merchants and remove loopholes for American Express cards, cash machines and company-provided cards, an influential retail industry lobby group has told the European Commission....

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