Euro MPs have voted in Strasbourg today to make paying by card cheap, easy and safe across Europe.
Vice Chair of the Economic & Monetary Affairs Committee and Local Euro MP Arlene McCarthy said: “Our priorities in this report are clear. We want high levels of consumer protection and information to open up the market in payments and reduce costs.”
“It’s not uncommon for people today to pass through several different European countries whilst on holiday or with work. When we do this we want the convenience of being able to use the same payment card in each country secure in the knowledge that it will be safe and we will not be charged exorbitant fees.”
“We have opened up Europe’s boarders and market places we now need to ensure that consumers are not being ripped-off when using these freedoms.”
Arlene added: “The current levels of fees for handling card payments are often too high relative to the costs. We are increasing transparency in the hope that it will reduce costs. However, card companies should take heed of what we did with mobile phone roaming charges. If costs don’t fall we will push for regulation.”
“We need minimum security requirements for card, internet and mobile payment across all EU member states. This should ensure that we can make payments cheaper, safer and easier without stifling the development of emerging payment systems such as mobile phone payments.”