Visa responds to European Commission proposals around interchange regulation and Payment Services Directive

Visa

Engaging with European Commission

In relation to the European Commissions publication of proposals around interchanging regulation and the payment services directive, Visa have issued the following statement:

Peter Ayliffe, President and CEO of Visa Europe said: “Secure, efficient, competitive and innovative electronic payments are crucial to the European economy. Payment cards provide huge benefits to consumers, retailers and the economy as a whole and we are concerned that these proposals will be detrimental to the innovation that will support European economic growth. There is little evidence to support the claims that these proposals will be beneficial to consumers.

“We recognise the Commission’s steps towards creating a level playing field for all current and future payment market participants but we believe they have fallen short of this goal by largely excluding three party schemes such as American Express, non-card E-and-M-commerce payment solutions and primarily focussing on four party card systems like Visa Europe.

“Further analysis of the detail of the documents is now needed and we will continue to engage with the Commission, the European Parliament and Member States during the legislative process to ensure the interests of European consumers and all stakeholders are properly represented.”

 

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