The interchange fee debate took an interesting turn in Brussels this past Wednesday when the former CEO of Credit Agricole argued that interchange fee regulation could prevent the launch of a new European card scheme. Georges Pauget, now President of the Monnet Project Association, a group of European banks that are considering the new scheme, gave the keynote address at a daylong conference on June 15, “The Role and Regulation of Interchange Fees in European Payment Cards“. The conference was hosted by PYMNTS.com and Competition Policy International (CPI) and brought together leading economists and policymakers. Key issues addressed included the role and necessity of interchange fees, their impact of innovation and investment in payment card systems, as well as the relationship between interchange fee regulation and SEPA. Watch the Georges Pauget Keynote here and additional presentations:
Welcome Remarks
David S. Evans, University College London
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The Monnet Project and the Future of Payments in Europe
Georges Pauget, The Monnet Project
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Interchange Fees: Efficient Pricing or Market Failure?
Richard Schmalensee, MIT, Cambridge
Andrea Amelio, European Commission, Brussels
Wilko Bolt, De Nederlandsche Bank, Amsterdam
Tommaso Valletti, Imperial College, London
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Impact of Changes in Interchange Fees on Consumers and Merchants
Abel Mateus, New University of Lisbon
Marianne Verdier, University of Paris West
Frank Maier-Rigaud, OECD, Paris
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Lunch and Keynote
Pierre Petit, European Central Bank, Frankfurt
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Interchange Fees: Optimal Regulation
Emilio Calvano, Bocconi University
Alberto Heimler, School of Public Administration, Rome
Thibaud Vergé, French Competition Authority, Paris
Juan Delgado, former Spanish Competition Authority, Madrid
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Payments Innovation, Investment, and Interchange Fees
David S. Evans, University College London
Marc Borreau, Telecom Paris Tech
Tim Attinger, Market Platform Dynamics, San Francisco
