EU reaches initial deal on capping card payment fees

Series Title
Series Details 17.12.14
Publication Date 17/12/2014
Content Type

The Economic and Monetary Affairs Committee of the European Parliament and the Council of the European Union reached an agreement on uniform rules to cap fees that banks charge retailers to process shoppers’ payments.

The cap would apply to both cross-border and domestic card-based payments and should result in lower costs for consumers.
Source Link Link to Main Source http://www.euractiv.com/sections/euro-finance/new-card-payment-caps-agreed-parliament-council-310951
Related Links
ESO: Background information: Updating rules for payment services: Council agrees its stance http://www.europeansources.info/record/press-release-updating-rules-for-payment-services-council-agrees-its-stance/
European Parliament: Newsroom: Press Release, 17.12.14: MEPs secure deal to cap card payment fees http://www.europarl.europa.eu/news/en/news-room/content/20141216IPR02040/
European Commission: RAPID: STATEMENT/14/2767: Commission welcomes political agreement reached by European Parliament and Council on capping inter-bank fees for card-based payments http://europa.eu/rapid/press-release_STATEMENT-14-2767_en.htm
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