Payment cards: cutting fees will benefit banks as well as consumers, says lead MEP Pablo Zalba Bidegain

In an exclusive interview with viEUws, MEP Pablo Zalba Bidegain, rapporteur of a bill to cap interchange fees on payment cards, speaks about his plans for the legislation with MLex correspondent John Rega.

In the interview, Zalba says that the measure will introduce transparency, to the benefit of banks as well as consumers and shop owners. He also argues, that capping fees will encourage the use of cards over cash. To broaden consumer protections, the rules should cover a wider sample of cards than originally proposed. Fee levels vary greatly around the European Union and need to be harmonized in the Single Market, he says. Zalba further argues that a European Commission study shows that the levels proposed are the right ones, in line with MasterCard’s and Visa Europe’s agreements with authorities. If treated as a priority, the measure could still be worked out with the Council of Ministers to send a signal to voters before European elections, Zalba concludes.

newsletter
Join our mailing list and never miss an update !
Facemasks as Protection Against COVID-19

Facemasks as Protection Against COVID-19

Wearing a mask in public is, first and foremost, an act of solidarity. They can help keep us safe and healthy, if used properly and in combination with other preventive

#Coronavirus: President vdL on the Role of the European Green Deal in the Economic Recovery

#Coronavirus: President vdL on the Role of the European Green Deal in the Economic Recovery

Coronavirus: Statement by Ursula von der Leyen, President of the European Commission, on the role of the European Green Deal in the economic recovery. [embed]https://www.youtube.com/watch?v=n-1E0fwrazc[/embed] Source: European Commission Youtube 

Connectivity During Emergency Situations

Connectivity During Emergency Situations

Emergency situations prove one thing: it is essential for every citizen in Europe to have access to high-speed connectivity. Europe is building up the Gigabit Society in rural and urban