Market approach to interchange commission regulation: advantages and disadvantages

Oksana Sarakhman, Ruslana Shurpenkova, Tatiana Kalaitan, Оlena Sidelnyk, Uljana Grudzevuch


Introduction. In Ukraine the lion's share of the commission fee for the services of the acquiring institution (the cost of trade acquiring) is the interchange fee (60% – 75%) – interbank exchange fee paid by the acquirer to the issuer of electronic means of payment for each direct or indirect person) non-cash transaction, made with a payment card, and varies between 1,4 – 1,8% of the transaction amount. The average cost of trade acquiring in Ukraine is 2% of turnover and plus approximately 300 hryvnias for terminal rent per month. Interchanging payment (funds paid by the acquirer's acquirer's bank) is two-thirds of the payment charged to the merchant.

Purpose. Determining the most correct market approach in the current conditions to the formation of key areas for the regulation of the interchanging commission in Ukraine and analysis of trends in the regulation of such an approach by other states.

Methodology. The data on the consequences of the introduced regulation of the interchange commission in other countries of the world are analyzed, in particular: in the United States of America, China, Australia, Great Britain and others. It is considered that the marginal rate is 0. 3% below the level of exchange commissions that exists in all Member States, and therefore the impact on credit card acceptance is likely to be significant. In particular, exchange approaches in Germany, Poland, Hungary, the Netherlands, Denmark, Spain and France were analyzed.

Results. In this regard, the need to maintain exclusively market-based approaches to interchange commission regulation has been proven, as this will enable the financial industry to further increase non-cash payments, reduce the share of the shadow economy and increase state budget revenues as a result of digitalization of payments.


market approach; payments; interchanging commissions; rates; analysis; regulation

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Science Works Journal "Ekonomichnyy analiz"

ISSN 1993-0259 (Print)  ISSN 2219-4649 (Online) DOI: 10.35774/econa

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