The regulation on interchange fees has been approved by the Economic and Monetary Affairs Committee (Econ) of the European Parliament.

The regulation seeks to establish caps on the interchange fees at 0.2 per cent of transaction value for debit cards and 0.3 per cent for credit cards.

It is generally expected that this regulation will lead to savings in cards transaction costs which should benefit both business and consumers.

The proposed text is subject to the endorsement of the European Parliament and Council which is expected to happen towards mid-2015.

The proposed regulation together with a number of other developments relevant to the banking and payments industry will feature during the second annual banking and finance law seminar being organised by Ganado Advocates in collaboration with the Malta Bankers’ Association.

The line-up of speakers will include industry leaders who will share their insights on the latest topical issues affecting the industry. A panel of experts, moderated by James Bonello, general secretary of the Malta Bankers’ Association, will also discuss latest developments in anti-money laundering legislation.

The seminar will be held on Thursday at the Hilton Malta hotel. For further enquiries send an e-mail to cborg@ganadoadvocates.com.

www.ganadoadvocates.com