In 2015, the Interchange Fee Regulation (EU/2015/751) (“IFR”) came
into force in EU, requiring a separation between card schemes and
processing entities in terms of accounting, organization and
decision-making processes. Such IFR applies to card-based payment
transactions carried out within EU, where both the payer's payment
service provider and the payee's payment service provider are located
therein.
UnionPay therefore comes up with this
code of conduct to help UnionPay staff understand the requirements of
the IFR and provide guidance for such staff to be fully compliant as it
relates to such aforementioned transactions only.
This
Code of Conduct will take effect on February 7, 2018. If there are
questions or concerns about this Code of Conduct, please feel free to
contact UnionPay Legal and Compliance Section at
Legalteam@unionpayintl.com.
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