Preliminary approval for EU card payment market reform

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On 3rd April 2014, draft legislation to reorganise the EU’s card payment market was approved by the European Parliament. If passed into law, the legislation will set a limit on card processing fees for retailers at 0.2% for debit cards and 0.3% for credit cards. Rules will be removed that oblige retailers to accept all types of card. The Parliament’s decision was approved by the British Retail Consortium, whose Director General Helen Dickinson described the reorganisation as an “important and positive vote by European politicians”.
Read more about the proposed reforms at:
http://www.brc.org.uk/brc_news_detail.asp?id=2608

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