Major step in driving down fees of card payments

Publikováno: 3. 4. 2014

European Parliament takes major step in driving down fees of card payments.

EuroCommerce congratulates the EP on its support to cap the costs of all credit and debit cards 

 

EuroCommerce congratulates the European Parliament on its support to cap the costs of all credit and debit cards at reasonable levels across Europe but allowing member states to set even lower caps. This is a crucial step towards savings for merchants and therefore better prices for consumers across Europe.

 

The European Parliament adopted today the ECON committee reports on the multilateral interchange fee (MIF) Regulation and the Payment Services Directive (PSD II). In reaction to the positive vote in plenary, Christian Verschueren, Director-General of EuroCommerce, said: “We have been battling against excessive card fees for many years and this is a great result. We are especially pleased at the Parliament’s inclusion of commercial cards in the caps, the earlier implementation date at domestic level and the removal of the ‘honour all cards rule’.”

 

The legislation will now go to the European Council and will also have to be ratified at second reading in the new EP after the May elections. The retail sector very much hopes that the version of the text voted today in Plenary will be maintained. We call on the Council, and in particular the upcoming Italian Presidency, to take up the dossier as a matter of urgency. The reforms in this regulation, together with the PSD II are essential for the future development and competitiveness of the payments sector in Europe.

 

Mr Verschueren added: “Of course, this is just the first step: we have a long way to go yet. But we trust today’s vote will send a strong message to the member states in Council and to all returning and new MEPs in the next Parliament that Europe needs forward-looking legislation which will encourage competition and innovation, bringing great benefits to Europe’s merchants and consumers.”

 

~ENDS~

 

For further information, please contact:

Marjolein Raes

Director of Advocacy & Communications

Tel: +32 2 737 05 99

raes@eurocommerce.eu

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