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Written question asked by Tim Loughton (Conservative) on Wednesday, 18 July 2018, in the House of Commons. It was due for an answer on Monday, 23 July 2018 (named day). It was answered by John Glen (Conservative) on Monday, 23 July 2018 on behalf of the Treasury.

Debit Cards: Fees and Charges

Question

To ask the Chancellor of the Exchequer, what assessment he has made of changes in the level of costs to (a) car auctions and (b) other industries for debit card transaction charges as a result of the Interchange Fee Regulation.

Answer

The European Commission plans to review the effectiveness of the Interchange Fee Regulation in the coming years as part of its usual process. Government has therefore not made a formal assessment of the impact of the Interchange Fee Regulation.

The Government is open to hearing views on this issue, and digital payments more broadly, as evidenced by its recently closed call for evidence on cash and digital payments in the new economy. This sought information on how the shift from cash to digital payments impacts on different sectors, different regions and different demographics. The Government will formally respond to the call for evidence in due course.

Secondary information

Type
Written question
Reference
165440
Session
2017-19
Subjects
Costs Cars Auctions Fees and charges Industry Debit cards
Link
View this Written question on www.parliament.uk