On 17 December 2014, the Presidency of the Council of the EU and the European Parliament reached agreement on the draft Regulation capping interchange fees for card based payments. A press release has now been published stating that the Permanent Representatives Committee has approved, on behalf of the Council of the EU, the agreed compromise text of the draft Regulation.

The draft Regulation now has to be formally approved by the European Parliament, so as to allow final adoption by the Council once the text has been revised in all launguages.

View Capping fees for card based payments: Council confirms deal with EP, 22 January 2015