EMA’s response to the PSR’s consultation on the application of the Interchange Fees Regulation

The EMA submitted a response to the PSR Phase 2 Draft Guidance on the monitoring and enforcing of the IFR on 8 July 2016.

We sought two objectives, requesting:

(i) clarification regarding when issuers are expected to issue co-badged cards, and

(ii) that the PSR withdraw their requirement to label corporate cards under three different labels, instead of a single “corporate” label.


The final consolidated PSR Guidance, published on 5 October, was amended in line with the our proposals:

  • there will be no requirement to co-badge cards if this not a service the issuer already offers, and
  • issuers will be able to label all corporate cards with one label rather than separately distinguishing corporate cards between debit, credit and prepaid.

Details of the response can be found here.