Interchange economics and regulatory / legal developments (Reg II, settlements, Illinois, Australia and UK reform).
In Japan, interchange (not interest) funds the card issuer, and standard retail rates run ~8x the EU and Australia caps. Why Japan chose disclosure over price control.
Read more →Why covered and exempt issuers should model the debit interchange cap as a recurring reset, not a one-time cut from 21 to 14.4 cents.
Read more →Visa and Mastercard's interchange settlement won preliminary approval. What the 1.25% cap and honor-all-cards change mean for card issuers.
Read more →Within two months of each other, the UK and Australia have published convergent regulatory approaches to Visa and Mastercard scheme fees. The specific tools differ. The convergence is the story.
Read more →*How interchange caps, state legislation, and expanding Visa and Mastercard scheme fees are squeezing card issuer profitability*
Read more →If you manage card economics in any regulated market, pay attention: Australia just locked in a full-stack reset.
Read more →*Editor's note (March 31, 2026): The RBA published its Conclusions Paper today. This article has been updated with the final decisions.*
Read more →Illinois is a small state-level story with a potentially big interchange policy template.
Read more →Under the proposed settlement, **standard consumer credit card** [**interchange**](/glossary#interchange) would be capped at approximately **1.25%**. Today, those products typically earn...
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