“The interchange fee ensures that retailers make a fair contribution to the operation of the card payments system, in return for which they benefit through guaranteed payments, security from fraud and the ability to accept payments online. The effects of these proposals are likely to mean a card payments system which, in the future, looks and feels very different, with potentially less to invest in fraud prevention, innovation and competitive offers to consumers. We are calling on the UK Government and EU policy-makers to ensure that a balance is struck where all parties who benefit from the card payments system pay a fair proportion for its operation”.