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Commerce sector's position on Payments Package ahead of trialogue discussions

Ahead of trialogue discussions, the commerce sector urges the European Council and Parliament to devise a text that sets harmonised caps on debit and credit cards with no 'weighted average', includes three-party schemes and commerical cards within the regulation, and one that removes the honour-all-cards rule and ensures swift implemention. Such a text will allow for healthier competition - something that is much needed in the retail payments market to promote innovation, improve customer service and ensure flexibility.

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We need urgent action on card fees, say Europe’s payment users

The European Payment Users Alliance represents businesses and consumers across Europe. We have a simple message for Europe’s politicians: we need the interchange fee regulation as a matter of urgency. The regulation on interchange fees must be treated as an absolute priority by the Italian Presidency so that it may be adopted by the end of 2014 and come into effect as soon as possible. Europe needs to move into a new payments world - yet the lack of this legislation is holding us back.

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Letter on the Review of the Interchange Fee Regulation

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Joint Industry Statement on SCA Implementation

The co-signatories are highly supportive of the goals of SCA to reduce fraud and increase consumer trust in electronic payments. However, we would like to reiterate that a migration towards SCA requires significant changes for all participants in the payments industry and they would need sufficient time to implement resilient systems that comply with the new requirements. We believe that an inconsistent enforcement and/or fragmented managed roll out of these requirements by individual NCAs will have a negative impact on the market and will result in the decline of legitimate transactions thus damaging the consumers’ experience in e-commerce. The increase in transaction declines and abandonment will also have long lasting negative consequences on consumer trust in electronic payments, which is contrary to the rationale of PSD2. According to a study commissioned by Stripe1, in the first year, SCA will result in an estimated loss of €57bn in the economic activity of European business due to purchase abandonment as a result of added friction at checkout point.

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Joint industry letter on SCA implementation

Following our earlier joint statement on 1st August, we are highly supportive of the objectives of PSD2 Strong Customer Authentication (SCA) requirements to reduce fraud and increase consumer trust in electronic payments.

As we had previously stated, despite significant investment to build an infrastructure to comply with PSD2 SCA requirements, there are significant challenges remaining, including dependencies on many non-regulated parties, and all parties in the ecosystem will not be ready to comply with SCA requirements by 14 September 2019.

We welcome the EBA Opinion of 21st June 2019 that provides flexibility for National Competent Authorities (NCAs) to work with payment service providers (PSPs) on migration plans to provide additional time to allow issuers to migrate to authentication approaches that are compliant with SCA, and acquirers to migrate their merchants and gateways to solutions that support SCA.

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