Payments
Putin says Russia will start selling gas to EU clients in rubles
Russian President Vladimir Putin said on Wednesday (23 March) Russia would start selling gas to "unfriendly" countries in rubles, after a freeze on Russia's assets by foreign nations had destroyed Moscow's trust. The "unfriendly" countries include the 27 EU members.
Facebook’s crypto project Diem sold after pushback
The Facebook-backed digital currency project Diem announced Monday (31 January) the winding down and $182-million sale of its technology, capping a years-long initiative that drew significant concern from regulators.
LEAK: Commission plans new revolution for “open finance” in 2022
The European Commission wants financial firms and other companies to share more customer data to create a “broader open finance space" with new services for citizens, according to a draft of the Digital Finance Strategy seen by EURACTIV.
Europeans save up to €2 billion thanks to caps on bank cards fees
Bank cards fees for European merchants and consumers have decreased over the past years thanks to the new EU rules, generating savings of up to €2 billion annually, according to a European Commission report published this week.
Mastercard senior executive: ‘We want to help to achieve European sovereignty’
The European Commission will unveil later this year a strategy to integrate the retail payment sector in Europe and reduce dependency on third-country credit card firms. Mastercard, one of those players, is supportive of the EU strategy, its senior executive, Jason Lane, told EURACTIV.
Brussels launches investigation against Apple for abusive practices
The European Commission opened two parallel investigations into Apple on Tuesday (16 June) to see whether the US tech giant has excluded rivals and imposed unfair conditions on 'app' developers via its Apple Store and its payment service Apple Pay.
Coronavirus hits adoption of stricter online payments rules
European retailers are asking for more time to adopt stricter rules to protect online shoppers, but consumer organisations say the demand is “completely unacceptable” as e-commerce fraud has increased during the coronavirus crisis.OpinionPromoted content
The interchange fee regulation in an evolving European payments markets: what is the way forward?
The European Commission has started assessing the impact and consequences of the Interchange Fee Regulation (IFR) on the payments market. While we welcome the Commission’s initiative, we have several reasons to believe that an assessment of the impact of IFR at this stage is premature.
Cashless payments versus the pandemic
Authorities are encouraging the use of electronic payments as a safer measure to maintain social distance and contain the spread of the coronavirus.
EU eyes single space for European bank cards
The European Commission will present this autumn a strategy on an integrated EU payments market, to facilitate the use of national payment services across Europe and reduce the dependency from international card operators such as Visa or Mastercard.
ECB to embark on soul-searching process in 2020
The European Central Bank will next year review its tools and objectives in order to better fulfil its mandate of price stability, and it also intends to assess the appropriateness of issuing its own digital currency, in the face of growing concerns about Facebook’s Libra.
Libra maintains 2020 approval target despite concerns
Facebook-sponsored digital currency Libra is determined to getting the green light by European regulators next year, despite the numerous concerns raised by EU finance ministers, a senior representative of the project told EURACTIV.com.
Commission wary of side effects of Libra regulation
The European Commission has called for a “proportionate” and differentiated approach to regulating digital currencies including Facebook’s Libra, as the EU needs to preserve is developing Fintech environment.
The future of payments: What next for competition and innovation in payments?
Following PSD2 and the IFR, is the payment sector in Europe on the right path to achieve greater speed, better transparency and enhanced choice for European consumers?
France’s Goulard gets double internal market and defence industry post
Defending Europe's industrial sovereignty and building a defence and space industry. Ursula von der Leyen's newly-designated European Commission is innovating by adopting French President Emmanuel Macron's demands itself. EURACTIV France reports.
König: I don’t believe in gender quotas
For many, the banking union represents the most ambitious step in EU integration since the creation of the euro. As the chairwoman of the new authority to resolve European systemic banks, Elke König, has been in the driving seat of the process.
European Commission wants to use euro as strategic tool
What if the euro, which is celebrating its twentieth anniversary, assumed its status as the second most important global currency? This revolutionary idea is to be discussed at the European Council next week. EURACTIV France reports.
Prepare for higher bank costs and customs delays from ‘no deal’ Brexit, London warns
UK businesses and consumers should brace themselves for tariffs, customs bureaucracy and higher bank charges if the UK leaves the EU without a deal, London warned on Thursday (23 August) in its most serious reality check to date.
Payments: Converging Users, Sectors and Technology
As users call for the convenience of the digital experience, well- established financial services providers must embrace the change. InfographicPromoted content
Mastercard: Core values in a changing payments landscape
With PSD2 now in force and an ever changing payments landscape encapsulated by changing consumer expectations and technological advances now is an exciting time for payments.
Tech industry sounds alarm over draft online payment rules
Twenty-seven e-commerce companies and lobby groups have asked the European Commission to change a draft proposal to regulate payment services, arguing that additional security measures will drive shoppers away from online platforms.
GDPR: A challenge for the financial services industry
The brave new world of data presents many challenges for the financial services industry and regulators alike. But if the right approach to regulating technological change is taken, Europe will continue to be a globally leading centre in the future, writes James Kemp.
Chinese messaging app WeChat courts European business for ad sales and e-commerce
Messaging and e-commerce app WeChat is courting European businesses to advertise and sell to its more than 700 million users in China.