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In a payment card association such as Visa, each time a consumer pays by card, the bank of the merchant (acquirer) pays an interchange fee (IF) to the bank of the cardholder (issuer) to carry out the transaction. This paper studies the determinants of socially and privately optimal IFs in a card...
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fulfil their obligations under Article 24 and Article 25. In accordance with Article 16(2) of the ESMA Regulation, this paper …
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