MEPs approved rules on Wednesday (7 October) to cut costs imposed on online payment services and to make them safer and more resistant to fraud. Legislators say the new measures will boost the growth of innovative online services in the payments sector.
President Vladimir Putin said today (27 March) that Russia would develop its own credit card system, in order to reduce reliance on Western payment card companies Visa and MasterCard and soften the potential blow from EU, US sanctions.
MasterCard commissioned Ipsos MORI to help it understand what the impact of being financially ‘excluded’ or ‘underserved’ is on people’s everyday lives. This study – both quantitative and qualitative – looked at the financially ‘excluded’ and ‘underserved’ across Europe.
Key rule changes designed to introduce more competition and update the credit and debit card payments landscape are set to ignite a lengthy dispute over technicalities when they come before committee in the European Parliament next week.