Debit and Credit Card Interchange Fees

Not sure if this has been mentioned before but I thought it might be of interest . The EU have recently voted to change the way fees are charged for the use of debit and credit cards within member states. Debit card fees will now be .02% and credit cards .03% of transaction. Whilst debit card fees have always been quite reasonable that has not been the case with credit cards were the fees have been much higher. The advantage of the new regulations is that it should put an end to companies charging a surcharge for credit card use. Perhaps wishful thinking but it may even lead to more competitive pricing as retailer will be paying much less in fees. It could also encourage more to accept credit cards as a standard form of payment such as in countries like Germany. The knowledge of these changes may even have been instrumental in the likes of Lidl and Aldi starting to accept credit cards as there would be less of an effect on their bottom line.  However one possible disadvantage is that it could put an end to cash back credit cards and likewise could affect other reward schemes all of which are financed from the high charges currently made on credit cards.  I understand that Sainsbury recently cut back on the value of Nectar Points earned on purchases no doubt as a result of this new regulation and it is possible that other well-known schemes from Tesco and JL/Waitrose may follow. More background here http://europa.eu/rapid/press-release_IP-15-4585_en.htm