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Economist: Lower card fees did not benefit Spanish consumers
The Spanish experience of lowering multilateral interchange fees for debit and credit cards was not positive, says Gustavo Matías Clavero, who is pessimistic about the European Commission's chances of achieving its goal of a single payments area through an updated Payments Services Directive.
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Payment Services Directive: The new payments landscape
The Payment Services Directive (PSD) was adopted by the EU Council of Ministers in March 2007, but an explosion in e-commerce through the internet and the ownership and use of smartphones has taken place since then. In response to the challenge posed by technology to traditional payments methods, the Commission published a green paper called: ‘Towards an integrated European market for card, internet and mobile payments,’ as a precursor to further rules changes. Following a consultation period an updated Payment Services Directive (PSD II) was published this summer (July 24), with a separate regulation on multilateral interchange fees (MIFs).
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Academic says EU payments regulation will dampen innovation
SPECIAL REPORT / An updated Payment Services Directive (PSD II) that aims to embrace new mobile payments methods could end up acting as a hindrance to entrepreneurs, a leading Spanish academic told EURACTIV.
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New mobile payment systems pose regulatory, security challenges
SPECIAL REPORT / An updated Payment Services Directive (PSD II), to be published by the European Commission this month, will struggle to cover regulatory and security challenges posed by a range of new mobile payments services expected to explode onto the European scene over the next two years.
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Cultural differences challenge European single payments area
SPECIAL REPORT / New rules to promote a Single European Payments Area (SEPA) will be presented this month, but the EU executive faces cultural as well as regulatory hurdles in attempting to promote online and mobile payments across the EU.
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Consumer groups divided over benefits of lower payment-card fees
SPECIAL REPORT / Forthcoming European Commission proposals aimed at reducing charges for payment cards have ignited a debate over whether consumers will benefit, based on previous experiences in Spain and France.
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EU’s new payments directive to cap fees, ignite consumer debate
SPECIAL REPORT / Forthcoming European Commission proposals that are aimed at levelling the playing field for payment cards across Europe are likely to ignite disputes over new market entrants and consumer benefits.
