Commission to go ahead with cap on card fees

Preview and reports of European Commission proposals adopted on the 24 July to update Payment Services Directive.

The proposals aim at reducing the cost of using payment and credit cards for consumers. The draft regulation will set new fee limits at 0.2% and 0.3% of the transaction value for debit cards and credit cards respectively.

A separate proposed regulation on multilateral interchange fees (MIFs) was also adopted.

ESO: Key source: Payment services http://www.europeansources.info/record/website-payment-services/

ESO: Background information: Payments services directive II http://www.europeansources.info/record/payments-services-directive-ii-special-reports/

ESO: Background information: Antitrust: Commission market tests Visa Europe's commitments – frequently asked questions http://www.europeansources.info/record/antitrust-commission-market-tests-visa-europes-commitments-frequently-asked-questions/

ESO: Background information: MasterCard heads to court over EU ban on card fees http://www.europeansources.info/record/mastercard-heads-to-court-over-eu-ban-on-card-fees/

EurActiv, 19.07.13: Barnier slams 'unacceptable' MasterCard lobbying http://www.euractiv.com/euro-finance/french-commissioner-slams-master-news-529385

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