The European Payments Council ( ) and the Cards Stakeholders Group (CSG) published a Bulletin that defines the recommended way to meet a major Interchange Fee Regulation (IFR) requirement. More precisely it addresses article 10.5 of the which prescribes that by 9 June 2016 all cards be electronically identifiable enabling payers and payees to unequivocally identify which brands and categories of prepaid cards, debit cards, credit cards or commercial cards are chosen by the payer. This migration towards the market using this recommended electronic recognition may take time. Therefore a short term solution based on Bank Identification Number (BIN) tables made available to merchants should however allow meeting the regulatory deadline (9 June 2016).
The Bulletin contents will be integrated in Volume v8.0 which is expected to be published at the end of 2016.