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Articles related to "Payment Services Directive: The end of the cash era?"

News

Telecom firms in scramble for cashless mobile wallets - 19 March 2012

The United Kingdom’s three largest mobile operators filed an application with the European Commission for approval of a new cashless mobile wallet venture last week, joining a Dutch proposal under consideration by the EU executive against a background of growing international competition.

EU plans next move as Google, Visa jostle for 'eMoney' - 22 December 2011

The European Commission is following with interest the battle between Google and Visa, which have both stepped up their offers of "digital wallet" services. EurActiv has seen a draft of a public consultation document that the EU executive will launch in January on internet and mobile payments.

Brussels eyes cap on cross-border bank fees - 01 December 2011

The EU's internal market commissioner Michel Barnier wants more transparency on fees consumers pay when making payments abroad, in a move that could replicate the approach taken with mobile phone operators whose so-called "roaming" fees were capped.

Mobile payments face an uncertain future - 29 January 2010

Even though France will be unveiling the EU's first payments via mobile SIM cards this year, so-called m-payments face an uncertain future as phone operators worry about their bottom lines and consumers wonder who will be tracking their payments.

EU direct debit rules open to fraud, says consumer group - 26 January 2010

The potential benefits of the Single Euro Payments Area (SEPA) are in danger of being outweighed by the risks as consumer groups' warnings fall on deaf ears, according to a letter sent by European consumers' organisation BEUC to MEPs and diplomats yesterday (25 January).

EU edges closer to mobile phone payments - 19 May 2009

An agreement between two major industry players has brought Europe a step closer to using mobile phone technology for direct payments.

Parliament backs e-money overhaul - 27 April 2009

The European Parliament last week voted to reform rules governing e-money in the EU, hoping to encourage the uptake of electronic means of payment across Europe.

Visa told to reduce transaction fees - 07 April 2009

The European Commission sent a formal statement to Visa on Friday (3 April), announcing its intention to bring an antitrust case against the credit card firm for over-charging its fees.

MasterCard agrees to lower cross-border fees - 02 April 2009

MasterCard announced yesterday (1 April) its intention to significantly reduce charges on card payments made across Europe - so-called multilateral interchange fees (MIF) -triggering enthusiastic reactions from Brussels, but disappointing retailers and consumers, who were campaigning for wider cuts.

Industry predicts 'contactless payment' surge in 2009 - 22 January 2009

So-called 'contactless payments' made via mobile phones or swipe cards could boom across Europe over the next two years thanks to new EU rules and a series of bold initiatives from card companies, mobile phone operators and big retail groups.

EU rules might hamper card payments - 01 December 2008

Despite the EU's official determination to reduce "inefficient cash payments" across Europe, EU rules allow extra charges to be applied to card payments, indirectly supporting the use of cash.

EU pushes for rival to Visa and MasterCard - 19 September 2008

Despite the insistence of the two 'incumbents' that increased competition in payment services would be a costly waste of time, the EU institutions are pushing for the creation of a European payment scheme to complement those provided by Visa and MasterCard.

Banks foresee higher costs for SEPA than PSD - 24 July 2008

European banks expect to spend between €10 and €100 million each to apply the new provisions of the Payment Services Directive, the EU legislative initiative designed to increase competition in the payment sector and facilitate a gradual migration to a non-cash economy, according to a new survey.

New deal brings EU mobile phone payments closer - 02 July 2008

Using a mobile phone to make direct payments could become the norm in Europe following cooperation announced between the GSM Association (GSMA), which brings together the world's major mobile operators, and the European Payment Council (EPC), the body representing the EU banking sector.

Parliament pushes for Ryanair model for banks - 05 June 2008

The European Parliament will today (5 June) endorse a report calling for more transparency of banking costs and suggesting a sort of Ryanair model for retail banks, based on increased provision of untied services instead of packets. Gianni Pittella, the European Parliament rapporteur for the proposal, spoke to EurActiv in an interview.

Opinion

The pitfalls of the Payment Services Directive - 25 March 2009

The EU's Payment Services Directive (PSD) is in danger of "creating a legislative labyrinth," warns Professor Maria Chiara Malaguti in a recent paper for the European Credit Research Institute (ECRI).

LinksDossier

Single Payments Area - 25 January 2008

In the European single market there are still large differences between the national payment systems. The EU seeks to remove these obstacles and reduce the costs to cross-border payments for consumers by creating a Single Euro(pean) Payments Area (SEPA). The European Payments Council (EPC) was set up to develop a common infrastructure and standards. However, there is only little progress, since banks are reluctant to apply standards and fear competition being opened up to non-banks, which makes it difficult to reach the 2010 target. Therefore, the Commission has laid out a common legal framework in its 2005 proposal.

Finance Fraud - 01 December 2005

In the wake of new ways to make payments, from cheque books, credit cards and debit cards to online payments and m-commerce, have always come new ways to steal money.  Some would say that the thieves are in fact always one step ahead. This dossier outlines types of fraudulent practices, developing technological solutions and European legislative measures.

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