Final Remarks

Abstract

Górka presents findings from his study of interchange fee reforms. He shows the consequences of capping interchange fees for stakeholders, considering network and monetary effects. Key takeaways are given regarding the positives and the negatives of the interchange fee reforms in studied countries. Górka gives recommendations for policymakers how to well design the interchange fee regulation. The book puts the issue of interchange fees in the wider context of the entire payment system (innovation and competition, references to FinTechs, novel methods of payments, including digital wallets, bitcoins, real-time payments, etc.). There are examples from payment markets, references to the industry practice, and to other legal acts than just those regulating interchange fees, such as the revised Payment Services Directive (PSD2) in the European Economic Area.