European Union (Interchange Fees for Card-based Payment Transactions) Regulations 2015.
Statutory Instruments
Source: Statutory Instruments

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paragraphs: (1) These Regulations may be cited as the European Union (Interchange Fees for Card-based Payment Transactions) Regulations 2015.
(2) These Regulations shall come into operation on 9 December 2015.
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paragraphs: (1) In these Regulations-
(2) For the purposes of these Regulations, a payee shall be regarded as a microenterprise if the payee falls within paragraph (b) of the definition of “consumer” in section 57BA of the Central Bank Act 1942 (No. 22 of 1942).
(3) A word or expression that is used in the Interchange Regulation and is also used in these Regulations has, unless the context otherwise requires, the same meaning in these Regulations as it has in the Interchange Regulation.
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paragraphs: The purpose of these Regulations is to supplement the Interchange Regulation as regards its application to the State.
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paragraphs: (1) If the requirement in paragraph (2) is fulfilled, a three party payment card scheme that licenses other payment service providers for the issuance of card-based payment instruments or the acquiring of card-based payment transactions, or both, or issues card-based payment instruments with a co-branding partner or through an agent, shall, in relation to domestic payment transactions, be exempt from the obligations under Chapter II of the Interchange Regulation until 9 December 2016.
(2) The requirement mentioned in paragraph (1) is that the card-based payment transactions under the three party payment card scheme referred to in that paragraph do not exceed on a yearly basis 3% of the value of all card-based payment transactions made in the State.
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paragraphs: Payment service providers shall not offer or request a weighted average interchange fee of more than the equivalent of 0.10% of the annual average transaction value of all domestic debit card transactions within each payment card scheme.
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paragraphs: (1) In respect of payment service providers and payment card schemes, the Bank is the competent authority in the State for the purposes of the Interchange Regulation and these Regulations.
(2) The Bank shall monitor, in an effective manner, compliance on the part of payment service providers and payment card schemes with the Interchange Regulation and shall take all necessary measures to ensure such compliance.
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paragraphs: (1) Subject to paragraph (2), a payee may make a complaint to the Financial Services Ombudsman relating to an alleged contravention by a payment service provider of the Interchange Regulation.
(2) Paragraph (1) does not apply to a payee unless the payee was a microenterprise at the time of the alleged contravention.
(3) A complaint made under paragraph (1) shall be determined in accordance with Part VIIB of the Central Bank Act 1942 (No. 22 of 1942) and that Part shall apply accordingly for the purpose of this Regulation.
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paragraphs: If a complaint relating to an alleged contravention of the Interchange Regulation by a payment service provider is in the first instance made to the Bank—
(a) if the payee was at the time referred to in Regulation 7(2) a microenterprise, the Bank shall inform the complainant of the right to make a complaint to the Financial Services Ombudsman and to have the complaint determined in accordance with Part VIIB of the Central Bank Act 1942 (No. 22 of 1942),
(b) if the payee was not at that time a microenterprise, the Bank shall inform the complainant of alternative out-of-court complaint and redress procedures for the settlement of disputes, such as through mediation or arbitration.
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paragraphs: The existence of the complaints procedure provided by these Regulations to deal with complaints arising under the Interchange Regulation does not affect the right to bring proceedings before a court of competent jurisdiction in relation to the matters complained of.
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paragraphs: Nothing in these Regulations precludes the Bank from performing its supervisory functions in relation to information received in connection with a complaint made by a payee under these Regulations.
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paragraphs: The Central Bank Act 1942 (No. 22 of 1942) is amended:
(a) in section 2(2A), by substituting the following for paragraph (u):
“(u) Commission Implementing Regulation (EU) 2015/500 of 24 March 2015 laying down implementing technical standards with regard to the procedures to be followed for the supervisory approval of the application of a matching adjustment in accordance with Directive 2009/138/EC of the European Parliament and of the Council [Note: OJ No. L79, 25.3.2015, p. 18];
(v) Regulation (EU) No. 751/2015 of the European Parliament and of the Council of 29 April 2015 [Note: OJ L 123, 19.05.2015, p.1].”, and