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UK cap on card interchange fees 'disproportionate,' lobby group says

( February 10, 2025, 11:02 GMT | Official Statement) -- MLex Summary: The Payment Systems Regulator’s proposed interim cap on interchange fees is “unsubstantiated and disproportionate,” UK Finance said. The banking and finance lobby group said its members disagree with claims that the UK card market is not functioning well. The industry has been under continuous regulatory scrutiny for nearly a decade, and the protracted approach creates uncertainty and discourages investment. “Regulators should prioritize stability…over interventionist policies that introduce unnecessary complexity and costs,” the group said. Statement below, documents attached....

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