This page has not been updated recently.
We have kept it, within the OnWindows Archive, for your reference.

Financial services

MEPs call for common payment rules

Common EU rules would make card payments easier to handle

Future EU rules for card payments should be modelled on those for cross-border bank transfers to make paying cheap, easy and safe, say MEPs.

Common EU technical and security standards would make card payments easier to handle, and fees charged for handling them should reflect real costs. Enforcing cost transparency should ensure that fees converge towards the lowest EU level.

MEPs call for common rules and standards for personal credit or debit card payments to bring this market closer to its full potential and efficiency. They add that these rules and standards should be based on those developed for the single Euro payments area (SEPA) regulation, which governs euro credit and direct debit transactions among banks.

Just as SEPA is designed to remove the gap between domestic and cross-border bank transfers, so the goal of integrating the card payment market should be to make cross-border payments as convenient as payments at national level.

A SEPA-like model is also needed for internet and mobile payments, but it should avoid regulating this market too heavily, so as not to hinder its natural growth or stifle innovation, the non-binding resolution adds.

Current fees for handling card payments are often too high relative to the costs they need to cover. Nevertheless, these fees do not need to be capped, as making costs transparent should help to make handling fees ‘converge to the common lowest level based on real costs’.

The minimum security requirements for card, internet and mobile payment should be the same in all EU member states. Common technical standards should foster interoperability and security and also provide for real-time delivery.

Please login/register to add your comments


Review comments:

There are currently no comments on this article

 

 

Prime focuses on Microsoft technology in manufacturing, exploring issues from PLM and the supply chain, to plant floor visibility and lean manufacturing.

 

Finance on Windows is Microsoft’s quarterly enterprise customer magazine for the financial services sector, covering banking, capital markets and insurance.

 

Speak provides a quarterly digest of news, features and case studies focusing on challenges faced by retail, hospitality and consumer-focused businesses.

 

Touch is the latest addition to the suite of Microsoft industry publications and the new authority on public sector activity within the EMEA region.

 
Financial Services Global Outlook 2012-2015

The Financial Services Global Outlook 2012-2015 is an essential resource for those looking to identify solution providers in banking, insurance and capital markets.

 
Prime Partner Guide 2010/11

The Manufacturing & Resources Global Outlook 2012-2015 is a leading authority on Windows-based solution providers in the manufacturing and resources sectors.

 
Distribution and Services Global Outlook

The Distribution and Services Global Outlook is a yearly publication that profiles Microsoft technology partners in the retail, consumer goods and services industries.

 
Public Sector Global Outlook

The annual Public Sector Global Outlook is an invaluable resource for companies in the sector seeking to leverage their investment in Microsoft solutions.

 
Communications Sector Partner Guide EMEA 2010

The Communications Sector Partner Guide is Microsoft’s official printed directory of partners serving the EMEA communications sector.

Keep up with OnWindows

Advertise

To find out more about advertisement opportunities online and in our suite of Microsoft industry magazines visit the OnWindows.com Partner Zone