MasterCard is throwing its weight behind the European Commission’s goal of encouraging more secure, efficient, competitive and innovative electronic payments, which will enable consumers, retailers and other key stakeholders to enjoy the full benefits of the EU internal market and pledges to work with the Commission to achieve this goal.
Javier Perez, President of MasterCard Europe, said: “While we support the Commission’s goals, we are concerned that some of the legislative proposals introduced today, such as the caps on interchange fees and restrictions on the Honour-All- Cards Rule, do not support these goals and will actually harm and inconvenience consumers and small merchants, as well as hinder competition and innovation in the European payments landscape. We look forward to working with the Commission, the EU Parliament and the EU Council of Ministers during the legislative process to help create a regulatory framework that promotes the growth of electronic payments while preserving the value of electronic payments for both consumers and merchants.”
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.