About: payment transactions

SEPA: Smart, Easy – Perfectly Adequate!

Establishing a Single Euro Payments Area (SEPA) for non-cash bulk transfers, which would cut costs for European companies and bring greater transparency for consumers, is easy and logical, write Meta Zähres and Sophie Ahlswede from Deutsche Bank (DB) Research.

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.

Visa told to reduce transaction fees

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.

New deal brings EU mobile phone payments closer

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.

MasterCard temporarily annuls cross-border fees

MasterCard is provisionally repealing the cross-border interchange fees it charges on all transactions made in Europe with credit or debit cards in a bid to comply with a Commission deadline of 21 June. But it will continue to look for a fee scheme that complies with EU rules.

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.

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.

SEPA: Easier credit transfers but uncertain cost cuts

Since 28 January 2008, every credit transfer carried out in euros is processed in the same way across Europe, with identical procedures and the same timeframe, but at a cost that will remain different from bank to bank "for a certain time".

Traditional payment systems still dominate e-commerce

While the internet is seen by many suppliers and consumers as a virtual trading platform, payment systems are the 'Achilles heel' of e-commerce for the consumer, argues Stefan Heng from the Deutshe Bank Research.

Expert group to study obstacles to switching bank accounts

The Commission has announced that it will create an expert group on bank customer mobility. Making it easier to change bank accounts cross-border is one of the main objectives of the EU's plans for a Single European Payments Area (SEPA).

Commission to get tough on banking sector?

Competition Commissioner Kroes is expected to release first results of a sector inquiry on retail banking, especially in the area of payment cards.  The aim of the inquiry is to assess whether there is enough competition in these markets to deliver full benefits to consumers. 

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 payment transactions: EU regulation on charges threatens to distort competition

Abstract The European Commission has plans for legislation that would drastically reduce charges for cross-border payment operations within the EU. According to its proposal for a regulation, charges for cross-border payment transactions up to EUR 50,000 are generally to be...