We need urgent action on card fees, say Europe’s payment users
The European Payment Users Alliance represents businesses and consumers across Europe. We have a simple message for Europe’s politicians: we need the interchange fee regulation as a matter of urgency. There is no more reason for delay.
The regulation on interchange fees must be treated as an absolute priority by the Italian Presidency so that it may be adopted by the end of 2014 and come into effect as soon as possible. Europe needs to move into a new payments world - yet the lack of this legislation is holding us back.
Commerce is increasingly shifting from the high street to the digital space. A whole, as yet untapped, market is emerging, which will benefit merchants, consumers and payments providers. We need truly forward-looking payment legislation to allow this new market to flourish.