Card Scheme and Processing Separation: The IFR Independence Rules
For payment card schemes within Article 7 of Regulation (EU) 2015/751, Commission Delegated Regulation (EU) 2018/72, in force since 7 February 2018, specifies the card scheme processing separation requirements: the accounting, organisational and decision-making independence applying between schemes and processing entities. Article 7 does not apply to three-party payment card schemes unless the scheme is…