I was going to summarize the background to the EU's regulation limiting fees, but it's too long. A couple of snippets relevant to points being discussed: > (1

I was going to summarize the background to the EU's regulation limiting fees, but it's too long. A couple of snippets relevant to points being discussed: > (10) ... Competition between payment card schemes to convince payment service providers to issue their cards leads to higher rather than lower interchange fees on the market, in contrast with the usual price-disciplining effect of competition in a market economy. In addition to a consistent application of the competition rules to interchange fees, regulating such fees would improve the functioning of the internal market and contribute to reducing transaction costs for consumers. > (11) The existing wide variety of interchange fees and their level prevent the emergence of new pan-Union players on the basis of business models with lower or no interchange fees, to the detriment of potential economies of scale and scope and their resulting efficiencies. This has a negative impact on merchants and consumers and prevents innovation. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32015R0751 https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32...