Bank association defends banks accused for cartel

opublikowano: 12-01-2007, 15:50

Warsaw (Puls Biznesu) – People paying with credit cards make up for those using cash. Cash transactions are two times more expensive than interchange – ZBP, the bank association believes.

Warsaw (Puls Biznesu) – People paying with credit cards make up for those using cash. Cash transactions are two times more expensive than interchange – ZBP, the bank association believes.

 

Banks defend themselves against the decision of antimonopoly authorities UOKiK. The latter accused 20 financial institutions for using anti-competitive practices. The banks jointly set the interchange fee, the charge paid to financial institutions by retailers when they accept cards.

“These allegations have no reasons. There was no cartel. In 200 states all over the world interchange fees are set similarly”, Krzysztof Pietraszkiewicz, the CEO of the Association of Polish Banks (ZBP) believed.

 He added that non-cash transactions in fact reduce the costs of the retailers.

“Analyses prove that cash transactions are nearly two times more expensive. People paying with cards make up the losses generated by those paying with cash”, Krzysztof Pietraszkiewicz said.

He believes that the examples of Denmark, Holland and Norway where there is no interchange fee, are not good because there are other fees in these countries, including payments for telephone and internet transactions in Denmark. In addition, the system is not profitable and needs state subsidies. All three countries are working to implement fees in order to have funds to build the pan-European settlement system.

“In addition, UOKiK wants to fine 20 banks while there are 38 taking part in the system. This is violation of competition rules. And only Visa and MasterCard systems are enumerated by UOKiK”, Krzysztof Pietraszkiewicz said.

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