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Standard Rates for Credit Card Interchange Fees Will Be Disclosed

September 14, 2022

Standard rates for credit card interchange fees will be announced by international brands around the end of November.

1. The Japan Fair Trade Commission (JFTC) released a report on a survey of credit card transactions on April 8, 2022. Furthermore, in FY 2020 and FY2021, the Ministry of Economy, Trade and Industry (METI) held a study group on developing the environment with a view toward furthering the spread of cashless payments among small and medium-sized stores, and announced a report on the findings on March 22, 2022.

A notable conclusion drawn in these two reports is as follows:

Note: One related Cabinet decision is the Grand Design and Action Plan for a New Form a Capitalism ~Investing in People, Technology and Startups~ (decided on June 7, 2022), which includes the statement, "...credit card companies will be asked to disclose their standard interchange fee rates to promote competition." Another is the Basic Policy for the Vision for a Garden City Nation (decided the same day), which, given that interchange fees account for around 70% of merchant fees, stipulates conducting deliberations toward the disclosure of the standard rates for them then closely monitoring the impact post-disclosure, in order to promote developments such as improved market transparency and more active price negotiations by merchants.

2. In light of the above, the JFTC and METI have been progressively working toward the disclosure of standard rates for interchange fees by the abovementioned international brands Mastercard, UnionPay and Visa are going to release theirs by around the end of this November.

3. Furthermore, the JFTC and METI are of the following opinion:

They will therefore also work toward having international brands do this as well.
4. The JFTC and METI will continue to work on developing a competitive environment in relation to credit cards.

Division in Charge

Cashless Payment Promotion Office, Commerce and Service Industry Policy Group

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