Interchange Fees Cut in France

September 26, 2013, Written By Bill Hardekopf
Interchange Fees Cut in France

The battle surrounding the interchange fee continues throughout the world, not just in the United States.

In France, the French Competition Authority has reached an agreement with Visa and MasterCard to cut the swipe fees by nearly half. These are the fees that retailers pay the banks every time they accept a card to pay for a customer transaction.

The interchange fee will drop from 0.50% per transaction to 0.28% beginning on November 1.

In addition, the ATM cash withdrawal fees will be 0.55 euros. Previously, these fees were 0.75 euros for Visa, and 0.60 for MasterCard.

These moves follow the 2011 changes by French banks which reduced the interchange fee by over one-third.

The information contained within this article was accurate as of September 26, 2013. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About Bill Hardekopf

Bill Hardekopf is the CEO of and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.
View all posts by Bill Hardekopf