About: credit card

Euro & Finance 04-07-2014

Italian presidency must prioritise card fees legislation, say businesses and consumers

Consumer and business organisations have called on the Italian Presidency of the EU and new European Parliament to make legislation capping payment card fees its “absolute priority.”
Euro & Finance 25-01-2010

Payment Services Directive: The end of the cash era?

Europe has been on the cusp of a payments revolution since 2007, when it established a single rulebook setting the same payment standards and obligations across the 31-member EU/EEA. But the Payments Services Directive and a voluntary payments scheme, the Single Euro Payments Area, were welcomed only guardedly by the industry and member states and banks have been slow to implement both initiatives.
Euro & Finance 25-05-2009

New security threats affect the Web, warns Symantec

Stealing confidential information on the Internet is becoming increasingly sophisticated and tricky to monitor as it can hit legitimate websites, Symantec's security intelligence chief told EURACTIV, warning that 1.6 million new malicious threats have been identified in 2008 alone.
Competition 02-04-2009

MasterCard agrees to lower cross-border fees

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.
Euro & Finance 05-06-2008

Pittella: EU search engine to counter low financial mobility

Addressing low customer mobility from one bank account to another should be the first priority of a European legislative initiative on the retail banking sector, MEP Gianni Pittella told EURACTIV.
Euro & Finance 05-06-2008

Parliament pushes for Ryanair model for banks

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.
Brexit 29-04-2008

EU: Flights and restaurants risky for payment cards

Purchasing plane tickets online is one of the least secure transactions that can be carried out with a payment card and chances are high that customers will be targeted by fraudsters, according to a report published yesterday (28 April) by the European Commission.
Competition 27-03-2008

Commission investigates Visa’s cross-border card fees

The European Commission has opened a formal inquiry into the fees imposed by Visa on card payments made across EU borders, saying it will seek to determine whether prices have been fixed at an unduly high level.
Brexit 25-01-2008

Single Payments Area

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.
Competition 20-12-2007

Commission rules against MasterCard in cross-border fee dispute

In a long-awaited decision, the Commission has ruled against MasterCard's interchange fees, saying they violate EU rules on restrictive business practice and "act like a tax on consumption".
Euro & Finance 10-05-2007

Interview: Criticism of the ECB ‘ill founded’

Concerning opinions expressed about the European Central Bank (ECB) by newly elected French President Nicolas Sarkozy, Paul de Grauwe, professor at Leuven University, warns that such criticism could endanger the monetary union, in an interview with EURACTIV.
Euro & Finance 09-06-2006

McCreevy will “bang the drum” on financial services

Internal Market Commissioner McCreevy has warned member states that they will face enforcement consequences if financial services legislation is not promptly transposed.
Euro & Finance 01-06-2006

Credit card company moves towards Europe-wide system

Visa Europe has become the first company to declare a date for compliance with new Commission-led rules on the Single European Payment Area (SEPA).
Euro & Finance 01-12-2005

Finance Fraud

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.
Competition 21-10-2005

VISA credit card fees under scrutiny in UK

Despite EU acceptance of VISA's fee structure in 2003, the UK competition authority has begun an action against the credit card company and its member banks for possible anti-competitive practices.
Euro & Finance 27-04-2005

IST prize for smart card

A new type of smart card has won one of the three prestigious European IST prizes for innovation in the information technology field.
Euro & Finance 06-04-2005

Banks to ease ways to pay across Europe

The banking group, the European Payments Council (EPC), has announced plans to introduce two new single payment systems across Europe by January 2008.
Euro & Finance 03-03-2005

Brief – New rules protect banks from fraud by dodgy credit dealers

The Commission has agreed with leading credit card companies on a set of guidelines which will protect banks from potentially fraudulent merchants.