4
5
CMSPI – IAC State of the Industry Report
CMSPI – IAC State of the Industry Report
Glossary
139
Section 5 Overview – Payments and Regulation
96 99 100
Processes
139
Section 5.1 – Types of Government Intervention
Exception Processes
140
Section 5.1.1 – Interchange Caps
Set-Up/Operations
141
Section 5.1.2 – Co-badging/Dual Network Routing Regulation
105
Parties
142
Section 5.1.3 – Price Signaling: Discounting, Surcharging, and Steering
107
Economics
143
Section 5.1.4 – Government-Mandated Payments
109
Miscellaneous
144
Section 5.1.5 – The Challenges of Regulating Payments
109
Payment Methods
145
Section 5.2 – Payments Industry Regulation in the US
110
Appendix
146
Section 5.2.1 – Interchange Caps
110
Index
154
Section 5.2.2 – Card Co-Badging and Routing
112
Section 5.2.3 – Discounting and Surcharging
116
Section 5.3 – Payments Industry Regulation in Europe
118
Section 5.3.1 – Interchange Caps in Europe
118
Section 5.3.2 – Co-Badging and Routing in Europe
119
Section 5.3.3 – Discounting and Surcharging in Europe
122
Section 5.4 – Payments Industry Regulation in Australia
122
Section 5.4.1 – Interchange Caps in Australia
122
Section 5.4.2 – Co-Badging and Routing in Australia
126
Section 5.4.3 – Discounting and Surcharging in Australia Section 5.5 – Payments Industry Regulation in Japan
131
133 137
Section 5.6 – Risks and Outcomes from Each Policy Intervention
Section 5.6.1 – Interchange Caps
137
Section 5.6.2 – Co-Badging
137
Section 5.6.3 – Surcharging
138
Section 5.7 – Conclusion
138
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