Awaiting Parliament 1st reading / single reading / budget 1st stage
2013/0265(COD) Interchange fees for card-based payment transactions
Next event: Debate in plenary scheduled 2014/04/02 more...
Lead committee dossier: ECON/7/13565
Legal Basis TFEU 114-p1
Next event: Debate in plenary scheduled 2014/04/02 more...
- Vote in plenary scheduled 2014/04/03
| Role | Committee | Rapporteur | Shadows |
|---|---|---|---|
| Lead | ECON | ZALBA BIDEGAIN Pablo (EPP) | BALDINI Marino (S&D), IN 'T VELD Sophia (ALDE), EICKHOUT Bas (Verts/ALE), FOX Ashley (ECR), KLUTE Jürgen (GUE/NGL), TERHO Sampo (EFD) |
| Opinion | IMCO | BIELAN Adam (ECR) |
Legal Basis TFEU 114-p1
Subjects
- 2.50.04.02 Electronic money and payments, cross-border credit transfers
- 2.50.08 Financial services, financial reporting and auditing
- 3.45.03 Financial management of undertakings, business loans, accounting
- 3.45.05 Business policy, electronic commerce, after-sales service, commercial distribution
- 4.60.06 Consumers' economic and legal interests
Activites
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2014/04/03
Vote in plenary scheduled
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2014/04/02
Debate in plenary scheduled
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2014/03/11
Committee report tabled for plenary, 1st reading/single reading
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2014/02/20
Vote in committee, 1st reading/single reading
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2013/10/08
Committee referral announced in Parliament, 1st reading/single reading
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2013/07/24
Legislative proposal published
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COM(2013)0550
summary
PURPOSE: to lay down uniform technical and business requirements on interchange fees for card-based payment transactions. PROPOSED ACT: Regulation of the European Parliament and of the Council. ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure and on an equal footing with the Council. BACKGROUND: the regulatory and legislative framework for retail payments in the EU has been developed over the past 12 years, with the advent of the Euro acting as an accelerating factor. One of the key practices hindering the achievement of an integrated market reasons is the widespread use of so-called Multilateral Interchange Fees (MIFs). At present, no legislation regulating interchange fees is in place in the EU. MIFs are collectively agreed inter-bank fees usually between the acquiring payment service providers and the issuing payment service providers belonging to a certain scheme. Such interchange fees paid by acquiring payment service providers form part of the fees they charge to merchants which merchants in turn pass on to consumers. Thus, high Interchange Fees paid by merchants result in higher final prices for goods and services, which are paid by all consumers. There currently is a wide variety of interchange fees applied within national and international payment card schemes, which gives rise to market fragmentation and prevents retailers and consumers from enjoying the benefits of an internal market for goods and services. Market entry for pan-European players remains difficult, as domestic interchange fees in EU Member States vary widely and new entrants would have to offer interchange fees at least comparable to those prevailing in each market they want to enter. The entry barriers interchange fees thus created for online and mobile payment solutions also result in less innovation. Over the last 20 years, the European Commission and national competition authorities have conducted a number of antitrust proceedings addressing anti-competitive practices in the card payment market. The General Court judgment of May 2012 confirmed the Commission's finding in its MasterCard Decision of December 2007 that MIFs restrict competition as they inflate the cost of card acceptance by merchants without leading to benefits for consumers. In its non-legislative resolution of 20 November 2012 on the Green Paper 'Towards an integrated European market for card, internet and mobile payments”, the Parliament took a firm position in favour of providing clarity on interchange fees to market participants and expressed itself in favour of a gradual approach leading to a ban on interchange fees through regulation. LEGAL BASIS: Article 114 of the Treaty on the Functioning of the European Union (TFEU). IMPACT ASSESSMENT: the impact assessment considers six scenarios for interchange fees. The assessment concludes that the most beneficial option appears to be a combination of: capping the level of interchange fees for cross-border transactions with consumer debit and credit cards (in the first stage) and, in a second stage, capping the level of interchange fees also for domestic transactions with consumer credit cards and consumer debit cards; a series of measures to enhance effective market functioning including the limitation of the rule allowing merchants to determine the choice of card brand at the point of sale for all cards and card-based transactions based on four party scheme models. CONTENT: the present regulation, combined with the proposed revised Payment Services Directive, proposes to create common rules for interchange fees in the European Union by introducing maximum fee levels for transactions with payment cards that are widely used by consumers and thereby difficult to refuse or surcharge by retailers. The regulation will in addition propose transparency measures to allow retailers and consumers to make better informed choices of payment instruments. Capping interchange fees: the Commission proposes to set caps for interchange fees to payment service providers of 0.2% and 0.3% for the value of the transaction for all consumer debit and credit transactions. These figures have been accepted by Visa, MasterCard and the French domestic card scheme Groupement Cartes Bancaires. During a transition period of two years, maximum levels of interchange fees are imposed for cross-border transactions (where the card holder uses their card in another Member State) or cross-border acquired transactions (where the merchant uses an acquiring PSP in another Member State) only. After a transitional period, the regulation of interchange fees for consumer cards should therefore be extended to cover also domestic interchange fees. Business rules: the proposed Regulation contains measures as regards business rules that will be applicable to all categories of card transactions and card-based payment transactions based on those. As of the entry into force of the regulation, for instance: the application of the 'Honour All Cards Rule' will be limited. No discrimination will be nonetheless allowed on the basis of the issuing bank or the provenance of the card holder and between the cards carrying the same interchange fee level; the application of any rule preventing or limiting merchants from steering customers to more efficient payments instruments ('no steering rules') will be prohibited; acquiring Payment Service Providers will provide at least monthly statements of fees to merchants, in which the fees paid by the merchant over the relevant month concerning each category of cards and each individual brand for when the acquirer provides acquiring services is specified; the application of any rule withholding merchants from disclosing to their customers fees they pay to payment services acquirers will be prohibited. BUDGETARY IMPLICATIONS: the proposal does not have any impact on the EU budget.
- DG {'url': 'http://ec.europa.eu/dgs/internal_market/', 'title': 'Internal Market and Services'}, BARNIER Michel
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COM(2013)0550
summary
Documents
- Legislative proposal published: COM(2013)0550
| Amendments | Dossier |
| 363 |
2013/0265(COD)
2013/12/12
IMCO
73 amendments...
Amendment 19 #
Proposal for a regulation Title 1 Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on interchange fees for card-based payment transactions and digital wallets (Text with EEA relevance)
Amendment 20 #
Proposal for a regulation Recital 10 (10) One of the key practices hindering the functioning of the internal market in card and card-based payments is the widespread existence of interchange fees, which are in most Member States not subject to any legislation. Interchange fees are inter-bank fees usually
Amendment 21 #
Proposal for a regulation Recital 11 (11) The currently existing
Amendment 22 #
Proposal for a regulation Recital 17 (17) For domestic transactions, a transition period is necessary to provide payment services providers and schemes with time to adapt to the new requirements. Therefore, after a two year period following the entry into force of this Regulation
Amendment 23 #
Proposal for a regulation Recital 18 (18) In order to facilitate cross border acquiring all
Amendment 24 #
Proposal for a regulation Recital 18 (18) In order to facilitate cross border acquiring all
Amendment 25 #
Proposal for a regulation Recital 18 (18) In order to facilitate cross border acquiring all (cross-border and domestic) ‘consumer’ debit card transactions and card based payment transaction should have a maximum
Amendment 26 #
Proposal for a regulation Recital 29 Amendment 27 #
Proposal for a regulation Recital 29 (29) The Honour all Cards Rule is a twofold obligation imposed by issuing payment services providers and payment card schemes on payees to, on the one hand, accept all the cards of the same brand (‘Honour all Products’ - element), irrespective of the different costs of these cards, and on the other hand irrespective of the individual issuing bank which has issued the card (‘Honour all Issuers’ – element). It is in the interest of the consumer that for the same category of cards with the same fee the payee cannot discriminate between issuers or cardholders, and payments schemes and payment service providers can impose such obligation on them. Therefore, although the ‘Honour all Issuers’ element of the Honour all Cards Rule is a justifiable rule within a payment card system, since it prevents that payees
Amendment 28 #
Proposal for a regulation Recital 30 Amendment 29 #
Proposal for a regulation Recital 31 (31) In order to ensure that redress is possible where this Regulation has been incorrectly applied, or where disputes occur between payment services users and payment services providers, Member States should establish adequate and effective out-of-court complaint and redress procedures. Member States, following guidelines set up by the European Banking Authority, should lay down rules on the penalties applicable to infringements of this Regulation and should ensure that those penalties are effective, proportionate and dissuasive and that they are applied.
Amendment 30 #
Proposal for a regulation Article 1 – paragraph 1 1. This Regulation lays down uniform
Amendment 31 #
Proposal for a regulation Article 1 – paragraph 1 1. This Regulation lays down uniform technical and business requirements for
Amendment 32 #
Proposal for a regulation Article 1 – paragraph 2 a (new) 2a. This Regulation does not apply to payment card transactions carried out under payment card scheme in respect of which the total number of cards issued to customers in the Union by or under the relevant payment card scheme is 1% or less of the total number of payment cards issued by all payment card schemes in the Union.
Amendment 33 #
Proposal for a regulation Article 1 – paragraph 3 – point a (a)
Amendment 34 #
Proposal for a regulation Article 1 – paragraph 3 – point c (c)
Amendment 35 #
Proposal for a regulation Article 1 – paragraph 3 – point c (c) transactions with cards issued
Amendment 36 #
Proposal for a regulation Article 2 – paragraph 1 – point 4 (4)
Amendment 37 #
Proposal for a regulation Article 2 – paragraph 1 – point 4 (4) ‘debit card transaction’ means an card payment transaction included with prepaid cards linked to a current or deposit access
Amendment 38 #
Proposal for a regulation Article 2 – paragraph 1 – point 5 (5)
Amendment 39 #
Proposal for a regulation Article 2 – paragraph 1 – point 5 (5) ‘credit card transaction’ means an card payment transaction where the transaction is settled
Amendment 40 #
Proposal for a regulation Article 2 – paragraph 1 – point 6 a (new) (6a) ‘payment card’ means a card – debit or credit – which entitles the bearer to make cash payments or enables the bearer to submit payment orders through the intermediation of a merchant or an acquirer, and which the merchant accepts with a view to receiving the funds owed to him;
Amendment 41 #
Proposal for a regulation Article 2 – paragraph 1 – point 9 (9)
Amendment 42 #
Proposal for a regulation Article 2 – paragraph 1 – point 9 (9) 'interchange fee' means a fee paid for each transaction directly or indirectly (i.e. through a third party) between the payment service providers of the payer and of the payee involved in a payment card or a payment card-based transaction. An interchange fee may be open, in the case of the four party payment card scheme (the fee is paid by one legal entity to another legal entity), or hidden, in the case of a three party scheme (internal transfer between the acquiring division and the issuing division of the same legal entity). It also incorporates fees paid or discounts offered between the payer’s payment service provider and a partner from the same brand or an agent;
Amendment 43 #
Proposal for a regulation Article 2 – paragraph 1 – point 15 (15)
Amendment 44 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 a (new) (25a) 'digital wallet' means a service allowing the wallet holder to access, manage and use identification and payment instruments in order to initiate payments. This service may reside on a device owned by the wallet holder e.g., a mobile phone or a PC or may be remotely hosted on a server (or a combination thereof) but is anyway under the control of the holder. The merchant with whom the digital wallet contracts is referred to as the 'sub-merchant';
Amendment 45 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 a (new) (25a) 'weighted average' means in relation to interchange fees the total amount of credit card or debit card interchange fees paid divided by the total amount of related transactions over the same period;
Amendment 46 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 a (new) (25a) ‘digital wallet’ means a service enabling the bearer of the wallet to gain access to, manage and use identification and payment tools to initiate payments. This service may be located on a device owned by the bearer of the wallet, for instance a mobile telephone or personal computer, or it may be hosted remotely on a server (the above solutions may also be combined), but it must in all cases be under the control of the bearer. The merchant with whom the digital wallet enters into a contract is referred to as a ‘sub-merchant’;
Amendment 47 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 b (new) Amendment 48 #
Proposal for a regulation Article 3 – title Interchange fees for cross-border consumer debit or credit card
Amendment 49 #
Proposal for a regulation Article 3 – paragraph 1 1. With effect from two months after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border
Amendment 50 #
Proposal for a regulation Article 3 – paragraph 1 1. With effect from two months after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border
Amendment 51 #
Proposal for a regulation Article 3 – paragraph 2 Amendment 52 #
Proposal for a regulation Article 3 – paragraph 2 2. With effect from two months after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border
Amendment 53 #
Proposal for a regulation Article 3 – paragraph 2 a (new) 2a. Any provisions in contracts or other forms of agreements which exclude the application of paragraphs 1 or 2 or which contain higher interchange fee rates than those set out in paragraph 1 or 2 shall be prohibited. In the event that a contract or other form of agreement excludes the application of paragraph 1 or 2, or if a contract or other form of agreement sets a higher interchange fee rate than those set out in paragraph 1 or 2, the maximum rate foreseen in paragraph 1 or 2 shall be applied.
Amendment 54 #
Proposal for a regulation Article 3 – paragraph 2 a (new) 2a. Member States shall be able to maintain or introduce lower caps through national legislation.
Amendment 55 #
Proposal for a regulation Article 4 Amendment 56 #
Proposal for a regulation Article 4 – title Interchange fees for
Amendment 57 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect from
Amendment 58 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect from two years after the entry into force of this Regulation, payment service providers shall not offer or request a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0,2 % on a weighted average of the value of the transaction for any debit card based transactions.
Amendment 59 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect from
Amendment 60 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect from
Amendment 61 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect from two years after the entry into force of this Regulation, payment service providers shall not offer or request a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than
Amendment 62 #
Proposal for a regulation Article 4 – paragraph 2 Amendment 63 #
Proposal for a regulation Article 4 – paragraph 2 2. With effect from two years after the entry into force of this Regulation, payment service providers shall not offer or request a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0,3 % on a weighted average of the value of the transaction for any credit card based transactions.
Amendment 64 #
Proposal for a regulation Article 4 – paragraph 2 2. With effect from
Amendment 65 #
Proposal for a regulation Article 4 – paragraph 2 2. With effect from
Amendment 66 #
Proposal for a regulation Article 4 – paragraph 2 2. With effect from two years after the entry into force of this Regulation, payment service providers shall
Amendment 67 #
Proposal for a regulation Article 4 – paragraph 2 a (new) 2a. Any provisions in contracts or other forms of agreements which exclude the application of paragraphs 1 or 2 or which contain higher interchange fee rates than those provided for in paragraphs 1 or 2 shall be prohibited. In the event that a contract or other form of agreement excludes the application of paragraph 1 or 2, or if a contract or other form of agreement sets a higher interchange fee rate than those set out in paragraph 1 or 2, the maximum rate foreseen in paragraph 1 or 2 shall be applied.
Amendment 68 #
Proposal for a regulation Article 4 – paragraph 2 a (new) 2a. Member States shall be able to maintain or introduce lower caps through national legislation.
Amendment 69 #
Proposal for a regulation Article 4 – paragraph 2 a (new) 2a. Member States shall be able to maintain or introduce lower caps or measures of equivalent object or effect through national legislation.
Amendment 70 #
Proposal for a regulation Article 5 – paragraph 1 For the purposes of the application of the caps referred to in Article 3 and Article 4, any net compensation received by an issuing bank from a payment card scheme in relation to payment transactions or related activities shall be treated as part of the interchange fee. The acquirer should only be charged the amount as stipulated in this regulation.
Amendment 71 #
Proposal for a regulation Article 5 a (new) Article 5 a Hidden interchange fees 1. Three party payment card schemes impose hidden interchange fees which should be subject to a cap in the same way as the open interchange fees referred to in Articles 3 and 4 are. 2. In order to ensure compliance with this requirement, three party payment card schemes shall keep separate accounts for business activities connected with consumer card acquiring and for business activities connected with consumer card issuing. This should be done in the same way as it would were these activities carried out by legally separate entities, enabling the identification of all cost and revenue elements – as well as the basis for their calculation and a detailed explanation of the methods used – related to the schemes' issuing and acquiring activities, including a detailed breakdown of fixed assets and structural costs. Three party payment card schemes shall also be obliged to disclose internal transfer costs in order to ensure compliance with the caps for hidden interchange fees and to prevent cross-subsidisation. 3. For the purposes of the application of the caps referred to above in Article 1 and Article 2, any net compensation received by a section responsible for the issuing of consumer cards from a section connected to a payment card scheme in relation to payment transactions or related activities shall be treated as part of the interchange fee. 4. In order to ensure compliance with paragraphs 1 and 2, three party payment card schemes shall be obliged to appoint a Trustee, who shall submit annual reports to the competent authorities referred to in Article 13 et seq. on the three party scheme’s compliance with the provisions of paragraphs 1 and 2 in the previous year. The implementing provisions concerning the Trustee shall be laid down in Annex X.
Amendment 72 #
Proposal for a regulation Article 7 – paragraph 1 1. Payment card schemes and processing entities shall
Amendment 73 #
Proposal for a regulation Article 8 – paragraph 1 a (new) 1a. When entering into a contractual agreement with a payment service provider, the consumer shall be given the possibility to decide whether or not he needs two or more different brands of payment instruments on his card, telecommunication, digital or IT device. Before signing the contract, the payment service provider shall provide the consumer with clear and objective information on the payment brands available and their characteristics related to use, functionalities, cost and security.
Amendment 74 #
Proposal for a regulation Article 8 – paragraph 1 a (new) 1a. When entering into a contractual agreement with a payment services provider, the consumer shall be provided with clear and objective information and shall be able to decide whether or not he needs two or more different brands of payment instruments on his card, telecommunication, digital or IT device.
Amendment 75 #
Proposal for a regulation Article 8 – paragraph 5 5. Where a payment device offers the choice between different brands of payment instruments, the brand applied to the payment transaction at issue shall be determined by the payer at the point of sale. Prior to the contract being signed the payment service provider shall provide the consumer with clear and objective information on all the payment brands available including their interchange fees and their characteristics.
Amendment 76 #
Proposal for a regulation Article 8 – paragraph 6 6. Payment card schemes, issuers, acquirers, merchants and payment card handling infrastructure providers shall not insert automatic mechanisms, software or devices on the payment instrument or at equipment applied at the point of sale which limit the choice of application by the payer when using a co-badged payment instrument.
Amendment 78 #
Proposal for a regulation Article 9 – paragraph 1 1. Acquirers shall offer and charge payees individually specified merchant service charges for different categories and different brands of payment cards with different interchange fee levels unless merchants request in writing acquiring payment services providers to charge blended merchant services charges.
Amendment 79 #
Proposal for a regulation Article 9 – paragraph 2 a (new) 2a. Any reduction in interchange fees under Articles 3 and 4 of this Regulation or decided on by the competent authorities referred to under Article 13 must be accompanied by an at least equivalent reduction in merchant service charges payable by recipients to acquiring service payment providers.
Amendment 80 #
Proposal for a regulation Article 10 Amendment 81 #
Proposal for a regulation Article 10 – paragraph 1 Amendment 82 #
Proposal for a regulation Article 10 – paragraph 1 1. Payment schemes and payment service providers shall not apply any rule that may oblige payees accepting cards and other payment instruments issued by one issuing payment service provider within the framework of a payment instruments scheme to also accept other payment instruments of the same brand and/or category issued by other issuing payment service providers within the framework of the same scheme, except if they are subject to the same
Amendment 83 #
Proposal for a regulation Article 10 – paragraph 2 Amendment 84 #
Proposal for a regulation Article 10 – paragraph 2 Amendment 85 #
Proposal for a regulation Article 10 – paragraph 3 Amendment 86 #
Proposal for a regulation Article 10 – paragraph 4 4. Issuing payment service providers shall ensure that their payment instruments
Amendment 87 #
Proposal for a regulation Article 12 – paragraph 2 2. Contracts between acquirers and payees
Amendment 88 #
Proposal for a regulation Article 14 – paragraph 2 – point 1 (new) (1) The European Banking Authority shall be in charge of issuing guidelines for effective, proportionate and dissuasive sanctions
Amendment 89 #
Proposal for a regulation Article 15 – paragraph 1 1. Member States shall establish independent, adequate and effective out- of-court complaint and redress procedures for the settlement of disputes arising under this Regulation between payees and their payment service providers. For those purposes, Member States shall designate existing bodies, where appropriate, or establish new bodies.
Amendment 90 #
Proposal for a regulation Article 15 – paragraph 1 a (new) 1a. Payment service providers shall adhere to one or more Alternative Dispute Resolution bodies.
Amendment 91 #
Proposal for a regulation Article 16 – paragraph 1 a (new) One year from the entry into force of this regulation, the Commission shall report to the European Parliament and the Council on the impact on the functioning of the internal market of three party domestic payment fees applying to cross border transactions and, if necessary, draft a legislative proposal seeking to alleviate the negativel effects thereof.
source: PE-526.051
2014/01/28
ECON
290 amendments...
Amendment 100 #
Proposal for a regulation Article 1 – paragraph 3 – point c Amendment 101 #
Proposal for a regulation Article 1 – paragraph 3 – point c Amendment 102 #
Proposal for a regulation Article 1 – paragraph 3 – point c (c)
Amendment 103 #
Proposal for a regulation Article 1 – paragraph 3 – point c (c) transactions with cards issued by three party payment card schemes
Amendment 104 #
Proposal for a regulation Article 1 – paragraph 3 – subparagraph 1 (new) Member States may decide to apply this Regulation to transactions under points (a), (b) and (c) of this paragraph.
Amendment 105 #
Proposal for a regulation Article 1 – paragraph 3 a (new) 3a. Member States may decide to apply this Regulation to transactions under points (a), (b) and (c) of this paragraph.
Amendment 106 #
Proposal for a regulation Article 1 – paragraph 4 Amendment 107 #
Proposal for a regulation Article 1 – paragraph 4 a (new) 4a. Article 6 and 7 shall not apply to domestic debit card schemes that operate with an average interchange fee or net compensation model which is verifiably below the threshold value in article 3 and 4.
Amendment 108 #
Proposal for a regulation Article 1 – paragraph 4 a (new) 4a. This Regulation does not apply to three party payment card schemes or four party payment card schemes that: a) hold less than a 5% share of the market for the provision of network services for card payments in the EU; or b) processed card based payment transactions of less than EUR 102.5 billion in its previous financial year.
Amendment 109 #
Proposal for a regulation Article 1 – paragraph 4 b (new) 4b. For the purposes of calculating the thresholds in Article 1(4a)(a) and Article 1(4a)(b), all three party payment card schemes and/or four party payment card schemes controlled or operated by undertakings belonging to the same group shall be aggregated.
Amendment 110 #
Proposal for a regulation Article 2 – paragraph 1 – point 2 (2) 'issuer' means a payment service provider contracting directly or indirectly with a payer to initiate, process and settle the payer’s payment transactions, where the provider makes funds available to the payer through the use of a card as a payment instrument;
Amendment 111 #
Proposal for a regulation Article 2 – paragraph 1 – point 3 a (new) (3a) ‘payment card’ means a card (debit or credit) authorising cash payments to be made or enabling payment orders to be submitted through a merchant or an acquirer, and which the merchant accepts for the purpose of receiving the funds owed to him;
Amendment 112 #
Proposal for a regulation Article 2 – paragraph 1 – point 4 (4) ‘debit card transaction’ means a
Amendment 113 #
Proposal for a regulation Article 2 – paragraph 1 – point 4 (4)
Amendment 114 #
Proposal for a regulation Article 2 – paragraph 1 – point 4 (4) 'debit card transaction' means a
Amendment 115 #
Proposal for a regulation Article 2 – paragraph 1 – point 4 (4)
Amendment 116 #
Proposal for a regulation Article 2 – paragraph 1 – point 4 (4)
Amendment 117 #
Proposal for a regulation Article 2 – paragraph 1 – point 4 (4)
Amendment 118 #
Proposal for a regulation Article 2 – paragraph 1 – point 4 (4) ‘debit
Amendment 119 #
Proposal for a regulation Article 2 – paragraph 1 – point 4 (4) ‘debit card transaction’ means a
Amendment 120 #
Proposal for a regulation Article 2 – paragraph 1 – point 5 (5) ‘credit card transaction’ means an card payment transaction wh
Amendment 121 #
Proposal for a regulation Article 2 – paragraph 1 – point 5 (5)
Amendment 122 #
Proposal for a regulation Article 2 – paragraph 1 – point 5 (5) 'credit card transaction' means a
Amendment 123 #
Proposal for a regulation Article 2 – paragraph 1 – point 5 (5)
Amendment 124 #
Proposal for a regulation Article 2 – paragraph 1 – point 5 (5)
Amendment 125 #
Proposal for a regulation Article 2 – paragraph 1 – point 5 (5) ‘credit
Amendment 126 #
Proposal for a regulation Article 2 – paragraph 1 – point 5 (5)
Amendment 127 #
Proposal for a regulation Article 2 – paragraph 1 – point 5 (5)
Amendment 128 #
Proposal for a regulation Article 2 – paragraph 1 – point 6 Amendment 129 #
Proposal for a regulation Article 2 – paragraph 1 – point 6 (6) 'commercial card' means any payment
Amendment 130 #
Proposal for a regulation Article 2 – paragraph 1 – point 6 6. 'commercial card' means any payment cards issued to undertakings or public sector entities that are limited in use for business expenses of employees or civil servants or cards issued to
Amendment 131 #
Proposal for a regulation Article 2 – paragraph 1 – point 8 (8) 'cross-border payment transaction' means a card payment or card-based payment transaction initiated by a payer or by a payee where the
Amendment 132 #
Proposal for a regulation Article 2 – paragraph 1 – point 8 (8) ‘cross-border payment transaction’ means a card payment or card-based payment transaction initiated by a payer or by a payee where the
Amendment 133 #
Proposal for a regulation Article 2 – paragraph 1 – point 8 (8)
Amendment 134 #
Proposal for a regulation Article 2 – paragraph 1 – point 8 (8) ‘cross-border payment transaction’ means a card payment or card-based payment transaction initiated by a payer or by a payee where the payer's payment service provider
Amendment 135 #
Proposal for a regulation Article 2 – paragraph 1 – point 8 (8)
Amendment 136 #
Proposal for a regulation Article 2 – paragraph 1 – point 8 (8) ‘cross-border payment transaction’ means a card payment or card-based payment transaction initiated by a payer or by a payee where the payer's payment service provider and the payee's payment
Amendment 137 #
Proposal for a regulation Article 2 – paragraph 1 – point 8 a (new) (8a) 'group' means a group of undertakings, which consists of a parent undertaking, its subsidiaries and the entities in which the parent undertaking or its subsidiaries have a holding as well as undertakings linked to each other by a relationship referred to in Article 12(1) of Directive 83/349/EEC;
Amendment 138 #
Proposal for a regulation Article 2 – paragraph 1 – point 9 (9)
Amendment 139 #
Proposal for a regulation Article 2 – paragraph 1 – point 9 (9)
Amendment 140 #
Proposal for a regulation Article 2 – paragraph 1 – point 9 (9) ‘interchange fee’ means a fee paid for each transaction directly or indirectly (i.e. through a third party) between the payment service providers of the payer and of the payee involved in a payment card or a payment card-based transaction, and includes fees applied by 3-party schemes by way of any internal transfer between the acquiring side and the issuing side of the same legal entity;
Amendment 141 #
Proposal for a regulation Article 2 – paragraph 1 – point 10 (10)
Amendment 142 #
Proposal for a regulation Article 2 – paragraph 1 – point 10 (10) ‘merchant service charge’ means a fee paid by the payee to the acquirer for e
Amendment 143 #
Proposal for a regulation Article 2 – paragraph 1 – point 13 (13) ‘payment
Amendment 144 #
Proposal for a regulation Article 2 – paragraph 1 – point 15 (15) ‘three party payment card scheme’ means (a) a payment card scheme
Amendment 145 #
Proposal for a regulation Article 2 – paragraph 1 – point 15 (15)
Amendment 146 #
Proposal for a regulation Article 2 – paragraph 1 – point 15 (15) ‘three party payment card scheme’ means a payment card scheme in which payments
Amendment 147 #
Proposal for a regulation Article 2 – paragraph 1 – point 15 a (new) (15a) ‘newly established payment card scheme’ means a card scheme established no more than two years from the submission of an application for exemption from the relevant provisions of Article 7;
Amendment 148 #
Proposal for a regulation Article 2 – paragraph 1 – point 16 (16)
Amendment 149 #
Proposal for a regulation Article 2 – paragraph 1 – point 17 (17) ‘card-based payment instrument’ means any payment instrument, including a card, mobile phone, computer or any other technological device containing the appropriate application, used by the payer to initiate a payment
Amendment 150 #
Proposal for a regulation Article 2 – paragraph 1 – point 17 a (new) Amendment 151 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 a (new) (25a) 'digital wallet' means a service allowing the wallet holder to access, manage and use identification and payment instruments in order to initiate payments. This service may reside on a device owned by the wallet holder e.g., a mobile phone or a PC or may be remotely hosted on a server (or a combination thereof) but is anyway under the control of the holder. The merchant with whom the digital wallet contracts is referred to as the 'sub-merchant'.
Amendment 152 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 a (new) Amendment 153 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 a (new) (25a) 'Account servicing payment service provider' means a payment service provider providing and maintaining payment accounts for a payer.
Amendment 154 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 b (new) (25b) 'Debit card payment scheme with minimum European geographical coverage' means a payment scheme for debit cards with a geographical coverage (i.e. effective acceptance) in at least four Member States.
Amendment 155 #
Proposal for a regulation Article 2 – paragraph 1 – point 25 b (new) (25b) 'average', in relation to interchange fees, means the total amount of credit card or debit card interchange fees paid, divided by the total amount of related transactions over the same time period.
Amendment 156 #
Proposal for a regulation Article 3 Amendment 157 #
Proposal for a regulation Article 3 – title Interchange fees for cross-border consumer debit or credit
Amendment 158 #
Proposal for a regulation Article 3 – title Interchange fees for
Amendment 159 #
Proposal for a regulation Article 3 – title Interchange fees for cross-border consumer debit or credit card based payment transactions
Amendment 160 #
Proposal for a regulation Article 3 – paragraph 1 1. With effect from two
Amendment 161 #
Proposal for a regulation Article 3 – paragraph 1 (1)
Amendment 162 #
Proposal for a regulation Article 3 – paragraph 1 1. With effect from two months after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border debit card transactions a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0,2 % of the value of the transaction, plus a fixed value to be set no higher than 0,06 euro, calculated as the 0,2% of the maximum of the low value transaction as defined in the Article 56 of the [PSD2] (2013/0264).
Amendment 163 #
Proposal for a regulation Article 3 – paragraph 1 1. With effect from
Amendment 164 #
Proposal for a regulation Article 3 – paragraph 1 1. With effect from two months after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border debit card transactions a per transaction interchange fee or other agreed remuneration with an equivalent object or effect
Amendment 165 #
Proposal for a regulation Article 3 – paragraph 1 1. With effect from two months after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border debit card transactions a per transaction interchange fee or other agreed remuneration with an equivalent object or effect
Amendment 166 #
Proposal for a regulation Article 3 – paragraph 1 1. With effect from two months after the entry into force of this Regulation, payment services providers shall not offer
Amendment 167 #
Proposal for a regulation Article 3 – paragraph 1 1. With effect from two months after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border
Amendment 168 #
Proposal for a regulation Article 3 – paragraph 1 1. With effect from two months after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border debit card transactions a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0,25 % based on a yearly weighted average of the value of the transaction.
Amendment 169 #
Proposal for a regulation Article 3 – paragraph 1 1. With effect from two months after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border debit
Amendment 170 #
Proposal for a regulation Article 3 – paragraph 1 1. With effect from two
Amendment 171 #
Proposal for a regulation Article 3 – paragraph 1 1. With effect from two
Amendment 172 #
Proposal for a regulation Article 3 – paragraph 1 1. With effect from two months after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border debit card based payment transactions a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0,2 % of the value of the transaction.
Amendment 173 #
Proposal for a regulation Article 3 – paragraph 1 1. With effect from two months after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border debit card transactions a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0,
Amendment 174 #
Proposal for a regulation Article 3 – paragraph 2 Amendment 175 #
Proposal for a regulation Article 3 – paragraph 2 2. With effect from two
Amendment 176 #
Proposal for a regulation Article 3 – paragraph 2 (2)
Amendment 177 #
Proposal for a regulation Article 3 – paragraph 2 2. With effect from two months after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border credit card transactions a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0,3 % of the value of the transaction, plus a fixed value to be set no higher than 0,09 euro, calculated as the 0,3% of the maximum of the low value transaction as defined in the Article 56 of the [PSD2] (2013/0264).
Amendment 178 #
Proposal for a regulation Article 3 – paragraph 2 2. With effect from
Amendment 179 #
Proposal for a regulation Article 3 – paragraph 2 2. With effect from two months after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border
Amendment 180 #
Proposal for a regulation Article 3 – paragraph 2 2. With effect from two months after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border credit card transactions a per transaction interchange
Amendment 181 #
Proposal for a regulation Article 3 – paragraph 2 2. With effect from two months after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border credit card transactions a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0,
Amendment 182 #
Proposal for a regulation Article 3 – paragraph 2 2. With effect from two
Amendment 183 #
Proposal for a regulation Article 3 – paragraph 2 2. With effect from two months after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border credit
Amendment 184 #
Proposal for a regulation Article 3 – paragraph 2 2. With effect from two months after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border credit card based payment transactions a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0,3 % of the value of the transaction.
Amendment 185 #
Proposal for a regulation Article 3 – paragraph 2 2. With effect from two months after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border credit card transactions a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0,
Amendment 186 #
Proposal for a regulation Article 3 – paragraph 2 2. With effect from two months after the entry into force of this Regulation, payment services providers shall not offer or request for cross-border credit card transactions a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0,
Amendment 187 #
Proposal for a regulation Article 3 – paragraph 2 a (new) 2a. Any provisions in contracts or other types of agreement which rule out the applicability of paragraphs 2 or 3, or which include interchange fees higher than those provided for in paragraphs 1 or 2, shall not be permitted. In the event that a contract or other type of agreement rules out the application of paragraphs 1 or 2, or the setting of an interchange fee in a contract or other type of agreement that is higher than those provided for in paragraphs 1 or 2, the maximum rate provided for in paragraphs 1 or 2 shall be applied.
Amendment 188 #
Proposal for a regulation Article 3 – paragraph 2 a (new) 2a. Member States shall be able to maintain or introduce lower caps or measures of equivalent object or effect through national legislation.
Amendment 189 #
Proposal for a regulation Article 4 Amendment 190 #
Proposal for a regulation Article 4 Amendment 191 #
Proposal for a regulation Article 4 Amendment 192 #
Proposal for a regulation Article 4 – title Interchange fees for all consumer debit or credit
Amendment 193 #
Proposal for a regulation Article 4 – title Interchange fees for all consumer debit or credit card based payment transactions
Amendment 194 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect from
Amendment 195 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect from two years after the entry into force of this Regulation, card payment service providers shall not offer or request
Amendment 196 #
Proposal for a regulation Article 4 – paragraph 1 (1)
Amendment 197 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect from two years after the entry into force of this Regulation, payment service providers shall not offer or request a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0,2 % of the value of the transaction for any debit card based transactions, plus a fixed value to be set no higher than 0,06 euro, calculated as the 0,2% of the maximum of the low value transaction as defined in the Article 56 of the [PSD2] (2013/0264).
Amendment 198 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect from
Amendment 199 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect from
Amendment 200 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect from
Amendment 201 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect from
Amendment 202 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect from two years after the entry into force of this Regulation, payment service providers shall not offer or request a per transaction interchange fee or other agreed remuneration with an equivalent object or effect
Amendment 203 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect
Amendment 204 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect from two years after the entry into force of this Regulation, payment service providers shall not offer or request a
Amendment 205 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect from
Amendment 206 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect from
Amendment 207 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect from two years after the entry into force of this Regulation, payment service providers shall not offer or request a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0,2 % of the value of
Amendment 208 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect from tw
Amendment 209 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect from two years after the entry into force of this Regulation, payment service providers shall not offer or request a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0,
Amendment 210 #
Proposal for a regulation Article 4 – paragraph 1 1. With effect from two years after the entry into force of this Regulation, payment service providers shall not offer or request a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0
Amendment 211 #
Proposal for a regulation Article 4 – paragraph 2 Amendment 212 #
Proposal for a regulation Article 4 – paragraph 2 2. With effect from
Amendment 213 #
Proposal for a regulation Article 4 – paragraph 2 2. With effect from two years after the entry into force of this Regulation, card payment service providers shall not offer or request
Amendment 214 #
Proposal for a regulation Article 4 – paragraph 2 (2)
Amendment 215 #
Proposal for a regulation Article 4 – paragraph 2 2. With effect from two years after the entry into force of this Regulation, payment service providers shall not offer or request a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0,3 % of the value of the transaction for any credit card based transactions, plus a fixed value to be set no higher than 0,09 euro, calculated as the 0,3% of the maximum of the low value transaction as defined in the Article 56 of the [PSD2] (2013/0264).
Amendment 216 #
Proposal for a regulation Article 4 – paragraph 2 2. With effect from
Amendment 217 #
Proposal for a regulation Article 4 – paragraph 2 2. With effect from
Amendment 218 #
Proposal for a regulation Article 4 – paragraph 2 2. With effect from
Amendment 219 #
Proposal for a regulation Article 4 – paragraph 2 2. With effect from
Amendment 220 #
Proposal for a regulation Article 4 – paragraph 2 2. With effect from tw
Amendment 221 #
Proposal for a regulation Article 4 – paragraph 2 2. With effect
Amendment 222 #
Proposal for a regulation Article 4 – paragraph 2 2. With effect from
Amendment 223 #
Proposal for a regulation Article 4 – paragraph 2 2. With effect from
Amendment 224 #
Proposal for a regulation Article 4 – paragraph 2 2. With effect from two years after the entry into force of this Regulation, payment service providers shall not offer or request a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0,3 % of the value of the credit transaction for any
Amendment 225 #
Proposal for a regulation Article 4 – paragraph 2 2. With effect from two years after the entry into force of this Regulation, payment service providers shall not offer or request a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of, on average, more than 0
Amendment 226 #
Proposal for a regulation Article 4 – paragraph 2 a (new) 2a. Any provisions in contracts or other types of agreement which rule out the applicability of paragraphs 1 or 2, or which include interchange fees higher than those provided for in paragraphs 1 or 2, shall not be permitted. In the event that a contract or other type of agreement rules out the application of paragraphs 1 or 2, or the setting of an interchange fee in a contract or other type of agreement that is higher than those provided for in paragraphs 1 or 2, the maximum rate provided for in paragraphs 1 or 2 shall be applied.
Amendment 227 #
Proposal for a regulation Article 4 – paragraph 2 a (new) 2a. Every year after the entry into force of this Regulation, the European Banking Authority shall provide a report on the profits derived from interchange fees disaggregated by Member State and distinguishing between cross border and domestic transactions.
Amendment 228 #
Proposal for a regulation Article 4 – paragraph 2 a (new) 2a. Member States shall be able to maintain or introduce lower caps or measures of equivalent object or effect through national legislation.
Amendment 229 #
Proposal for a regulation Article 5 – paragraph 1 For the purposes of the application of the caps referred to in Article 3 and Article 4,
Amendment 230 #
Proposal for a regulation Article 5 – paragraph 1 For the purposes of the application of the caps referred to in Article 3 and Article 4, any net compensation received by an issuing bank from a payment card scheme in relation to payment transactions or related activities
Amendment 231 #
Proposal for a regulation Article 5 – paragraph 1 For the purposes of the application of the caps referred to in Article 3 and Article 4, any net compensation received by an issuing bank from a
Amendment 232 #
Proposal for a regulation Article 5 – paragraph 1 For the purposes of the application of the caps referred to in Article 3 and Article 4, any net compensation received by an issuing
Amendment 233 #
Proposal for a regulation Article 5 – paragraph 1 For the purposes of the application of the caps referred to in Article 3 and Article 4, any net compensation received by an issuing bank from a payment
Amendment 234 #
Proposal for a regulation Article 5 – paragraph 1 a (new) Competent authorities shall prevent any attempts by the payment service providers to circumvent the rules established by this Regulation, including non-EU issuance of payment cards.
Amendment 235 #
Proposal for a regulation Article 5 – paragraph 1 a (new) Competent authorities shall prevent any attempts by the payment service providers to circumvent the rules established by this Regulation, including non-EU issuance of payment cards.
Amendment 236 #
Proposal for a regulation Article 5 a (new) Article 5 a Competent authorities shall prevent any attempts by the payment service providers to circumvent the rules established by this Regulation, including non-EU issuance of payment cards.
Amendment 237 #
Proposal for a regulation Article 5 a (new) Article 5 a 1. Three party payment card schemes operate with implicit interchange fees which should be subject to same rules that apply to the explicit interchange fees as referred to in Articles 3, 4 and 5. 2. In order to ensure compliance with this requirement, three party payment card schemes shall: a. keep separate accounts for the activities associated with acquiring consumer cards and the activities associated with issuing consumer cards in the same manner as would be the case if these activities were carried out by legally independent companies; b. make transparent their internal transfer prices to ensure compliance with the caps on implicit interchange fees and to prevent cross-subsidy.
Amendment 238 #
Proposal for a regulation Article 5 a (new) Article 5 a Hidden interchange fees 1. Three party payment card schemes impose hidden interchange fees which should be subject to a cap in the same way as the open interchange fees referred to in Articles 3 and 4 are. 2. In order to ensure compliance with this requirement, three party payment card schemes shall keep separate accounts for business activities connected with consumer card acquiring and for business activities connected with consumer card issuing. This should be done in the same way as it would were these activities carried out by legally separate entities, enabling the identification of all cost and revenue elements – as well as the basis for their calculation and a detailed explanation of the methods used – related to the schemes’ issuing and acquiring activities, including a detailed breakdown of fixed assets and structural costs.
Amendment 239 #
Proposal for a regulation Article 6 – paragraph 4 a (new) 4a. Any restriction on the provision of payment-related services in payment card schemes rules shall be prohibited, unless it is non-discriminatory and objectively necessary to operate the payment scheme.
Amendment 240 #
Proposal for a regulation Article 6 – paragraph 4 a (new) 4a. The interchange fee of the country of the acquirer shall apply to cross border transactions
Amendment 241 #
Proposal for a regulation Article 6 a (new) Article 6a For cross-border transactions, the interchange fee applicable is the interchange fee of the country of the acquirer.
Amendment 242 #
Proposal for a regulation Article 7 – paragraph 1 1. Payment card schemes and processing
Amendment 243 #
Proposal for a regulation Article 7 – paragraph 1 1. Payment card schemes and processing
Amendment 244 #
Proposal for a regulation Article 7 – paragraph 2 2. Payment card schemes and issuers shall allow for the possibility that authorisation and
Amendment 245 #
Proposal for a regulation Article 7 – paragraph 2 2. P
Amendment 246 #
Proposal for a regulation Article 7 – paragraph 2 2. P
Amendment 247 #
Proposal for a regulation Article 7 – paragraph 3 3. Any territorial discrimination in processing rules operated by p
Amendment 248 #
Proposal for a regulation Article 7 – paragraph 3 3. Any territorial discrimination in processing rules operated by p
Amendment 249 #
Proposal for a regulation Article 7 – paragraph 4 4.
Amendment 250 #
Proposal for a regulation Article 7 – paragraph 4 a (new) 4a. Member States shall have the possibility of temporarily exempting newly established card systems – in part or in full – from the application of the provisions of Article 7. This exemption may last for a maximum of seven years.
Amendment 251 #
Proposal for a regulation Article 7 a (new) Article 7a Obligation to accept transactions from any acquirer Three party schemes and four party issuers shall accept transactions made using cards issued by them also directly from any acquirer following the general business rules and standards as well as the interchange rules laid down by this Regulation. Three party schemes operating within the Union shall ensure that their system is technically interoperable with other systems of card processing entities within the Union through the use of standards developed by international or European standardisation bodies. Three party processing entities or systems shall not adopt or apply business rules that restrict interoperability with other processing entities within the Union.
Amendment 252 #
Proposal for a regulation Article 7 a (new) Amendment 253 #
Proposal for a regulation Article 8 Amendment 254 #
Proposal for a regulation Article 8 – paragraph 1 1. Any schemes rules and rules in licensing agreements that hinder or prevent an issuer from co-badging two or more different brands of payment instruments on a card, telecommunication, digital or IT device shall be prohibited, when this otherwise would be technically possible. Issuers shall not create technical barriers for co- badging when interoperable rules make co-badging possible.
Amendment 255 #
Proposal for a regulation Article 8 – paragraph 1 1. Any schemes rules and rules in licensing agreements or measures of equivalent effect that hinder or prevent an issuer from co-badging two or more different brands of payment instruments on a card, telecommunication, digital or IT device shall be prohibited.
Amendment 256 #
Proposal for a regulation Article 8 – paragraph 1 1. Any schemes rules and rules in licensing agreements or equivalent measures that hinder or prevent an issuer from co- badging two or more different brands of payment instruments on a card, telecommunication, digital or IT device shall be prohibited.
Amendment 257 #
Proposal for a regulation Article 8 – paragraph 1 a (new) 1a. Any debit card issued by an account servicing payment service provider must be co-badged and contain at least two debit card payment schemes with minimum European geographical coverage. The account servicing payment service provider is obliged to add on the issued debit card at least one debit card payment scheme with minimum European geographical coverage requested by the cardholder, without any discrimination between the available schemes, and also open its ATM network to this debit card payment scheme with minimum European geographical coverage selected by the cardholder.
Amendment 258 #
Proposal for a regulation Article 8 – paragraph 1 a (new) 1a. When entering into a contractual agreement with his payment services provider, the consumer shall be able to decide whether or not he needs two or more different brands of payment instruments on his card, telecommunication digital or IT device. In good time before the contract is signed, the payment service provider shall provide the consumer with clear and objective information on all the payment brands available and their characteristics (functionalities, cost, security).
Amendment 259 #
Proposal for a regulation Article 8 – paragraph 1 a (new) 1a. When entering into a contractual agreement with his payment services provider, the consumer shall be able to decide whether or not he needs two or more different brands of payment instruments on his card, telecommunication, digital or IT device. In good time before the contract is signed, the payment service provider shall provide the consumer with clear and objective information on all the payment brands available and their characteristics (functionalities, cost, security).
Amendment 260 #
Proposal for a regulation Article 8 – paragraph 1 a (new) 1a. The issuer shall provide consumers with clear and balanced information on available brands and their key features. Issuers shall be prohibited from requiring consumers to accept more than one brand of payment instruments on a card, telecommunication, digital or IT device.
Amendment 261 #
Proposal for a regulation Article 8 – paragraph 2 2. Any difference in treatment of issuers
Amendment 262 #
Proposal for a regulation Article 8 – paragraph 2 2. Any difference in treatment of issuers or acquirers in schemes rules and rules in licensing agreements concerning co- badging or equivalent co-residence of different brands or applications on a card, telecommunication, digital or IT device shall be objectively justified and non- discriminatory.
Amendment 263 #
Proposal for a regulation Article 8 – paragraph 3 3. Payment card schemes shall not impose reporting requirements, obligations to pay fees or other obligations with the same object or effect on card issuing and acquiring payment services providers for transactions carried out with any card, telecommunication, digital or IT device on which their brand is present in relation to transactions for which their scheme is not used.
Amendment 264 #
Proposal for a regulation Article 8 – paragraph 3 3. Payment card schemes shall not impose reporting requirements, obligations to pay fees or other similar obligations with the same object or effect on card issuing and acquiring payment services providers for transactions carried out with any device on which their brand is present in relation to transactions for which their scheme is not used.
Amendment 265 #
Proposal for a regulation Article 8 – paragraph 4 4. Any routing principles aimed at directing transactions through a specific channel or process and other technical and security standards and requirements with respect to the handling of more than one payment card brand on a card, telecommunication, digital or IT device shall be non-discriminatory and shall be applied in a non-discriminatory manner, giving the payee the possibility of refusing certain cards or other payment instruments in accordance with Article 10 of this regulation.
Amendment 266 #
Proposal for a regulation Article 8 – paragraph 4 4. Any routing principles or equivalent measures aimed at directing transactions through a specific channel or process and other technical and security standards and requirements with respect to the handling of more than one payment card brand or equivalent on a card, telecommunication, digital or IT device shall be non- discriminatory and shall be applied in a non-discriminatory manner.
Amendment 267 #
Proposal for a regulation Article 8 – paragraph 4 4. Any routing principles aimed at directing transactions through a specific channel or process and other technical and security standards and requirements with respect to the handling of more than one payment card brand or equivalent on a card, telecommunication, digital or IT device shall be non-discriminatory and shall be applied in a non-discriminatory manner.
Amendment 268 #
Proposal for a regulation Article 8 – paragraph 5 5. Where a payment device offers the choice between different brands of payment instruments, the brand applied to the payment transaction at issue shall be determined by the payer at the point of sale, unless the payment speed is crucial, or the payment itself is done in circumstances where the transaction does not require the cardholder verification (e.g. PIN) or where terminals do not have the keyboard (or equivalent tool) to make the selection. In this last cases, the cardholder' framework agreement will indicate the application that will be selected to conclude the transaction in accordance with the agreement between cardholder and his PSP.
Amendment 269 #
Proposal for a regulation Article 8 – paragraph 5 5. Where a payment device offers the choice between different brands of payment instruments, the brand applied to the payment transaction at issue shall be determined by the payer at the point of sale. Payees may nonetheless refuse certain cards and payment instruments in accordance with Article 10.
Amendment 270 #
Proposal for a regulation Article 8 – paragraph 5 5. Where a payment device offers the choice between different brands of payment instruments, the payer shall be allowed to determine the brand applied to the payment transaction at issue
Amendment 271 #
Proposal for a regulation Article 8 – paragraph 5 (5) Where a payment device offers the choice between different brands of payment instruments, the brand applied to the payment transaction at issue shall be determined by the paye
Amendment 272 #
Proposal for a regulation Article 8 – paragraph 6 6. Payment card schemes, issuers, acquirers and payment card handling infrastructure providers shall not insert automatic mechanisms, software or devices on the payment instrument or at equipment applied at the point of sale which limit the choice of application by the payer and the payee when using a co-badged payment instrument. Payees shall not prevent the payer's ability, for the categories of cards or related payment instruments accepted by the payee, to override an automatic priority selection made by the payee in his equipment.
Amendment 273 #
Proposal for a regulation Article 8 – paragraph 6 6. Payment card schemes, issuers, acquirers and payment card handling infrastructure providers shall not insert automatic mechanisms, software or devices on the payment instrument or at equipment applied at the point of sale which limit the choice of application by the payer when using a co-badged payment instrument. Payees, on the other hand, shall retain the option of installing automatic mechanisms in the equipment used at the point of sale which make a priority selection of a particular brand or application, with the proviso that the payer must always be able to reject this choice in favour of his own preference.
Amendment 274 #
Proposal for a regulation Article 8 – paragraph 6 (6) Payment card schemes, issuers, acquirers and payment card handling infrastructure providers shall not insert automatic mechanisms, software or devices on the payment instrument or at equipment applied at the point of sale which limit the
Amendment 275 #
Proposal for a regulation Article 8 – paragraph 6 6. Payment card schemes, issuers, acquirers, merchants and payment card handling infrastructure providers shall not insert automatic mechanisms, software or devices on the payment instrument or at equipment applied at the point of sale which limit the choice of application by the payer when using a co-badged payment instrument.
Amendment 276 #
Proposal for a regulation Article 10 Amendment 277 #
Proposal for a regulation Article 10 Amendment 278 #
Proposal for a regulation Article 10 Amendment 279 #
Proposal for a regulation Article 10 – title Amendment 280 #
Proposal for a regulation Article 10 – paragraph 1 Amendment 281 #
Proposal for a regulation Article 10 – paragraph 1 Amendment 282 #
Proposal for a regulation Article 10 – paragraph 1 Amendment 283 #
Proposal for a regulation Article 10 – paragraph 1 1. Payment schemes and payment service providers shall not apply any rule that may oblige payees accepting cards and other payment instruments
Amendment 284 #
Proposal for a regulation Article 10 – paragraph 1 1. Payment schemes and payment service providers shall not apply any rule that may oblige payees accepting cards and other payment instruments issued by one issuing payment service provider within the framework of a payment instruments scheme to also accept other payment instruments of the same brand and/or category issued by other issuing payment service providers within the framework of the same scheme, except if they are subject to the same
Amendment 285 #
Proposal for a regulation Article 10 – paragraph 2 Amendment 286 #
Proposal for a regulation Article 10 – paragraph 2 Amendment 287 #
Proposal for a regulation Article 10 – paragraph 2 Amendment 288 #
Proposal for a regulation Article 10 – paragraph 3 Amendment 289 #
Proposal for a regulation Article 10 – paragraph 3 Amendment 29 #
Draft legislative resolution Paragraph 1 1.
Amendment 290 #
Proposal for a regulation Article 10 – paragraph 3 Amendment 291 #
Proposal for a regulation Article 10 – paragraph 3 3. Merchants deciding not to accept all cards of a payment card scheme or other payment instruments
Amendment 292 #
Proposal for a regulation Article 10 – paragraph 3 3. Merchants deciding not to accept all cards or other payment instruments of a payment card scheme shall inform consumers in a clear and unequivocal manner at the same time as they inform the consumer on the acceptance of other cards and payment instruments of the scheme. That information shall be either displayed prominently at the entrance of the shop, at the till or on the website or other applicable electronic or mobile medium, and shall be provided to the payer in good time before he enters into a purchase agreement with the payee.
Amendment 293 #
Proposal for a regulation Article 10 – paragraph 4 4. Issuing payment service providers shall ensure that their payment instruments are visibly and electronically identifiable, enabling payees to identify unequivocally which brands and categories of prepaid, debit, credit or commercial cards or card based payments based on these are chosen by the payer, when these kind of categories affect the business rules or terms for accepting the cards. At minimum the merchant systems should be able to identify the merchant and interchange fee category of the payment instruments and when this is not possible the default value should be the corresponding instrument with the lowest merchant fee.
Amendment 294 #
Proposal for a regulation Article 10 – paragraph 4 4.
Amendment 295 #
Proposal for a regulation Article 10 – paragraph 4 4. Issuing payment service providers shall ensure that their payment instruments are visibly and electronically identifiable in 18 months after the entry into force of this Regulation, enabling payees to identify unequivocally which brands and categories of prepaid, debit, credit or commercial cards or card based payments based on these are chosen by the payer.
Amendment 296 #
Proposal for a regulation Article 10 – paragraph 4 4. Issuing payment service providers shall ensure that their payment instruments are visibly and electronically identifiable, either in the device or on the payment terminal, enabling payees and payers to identify unequivocally which brands and categories of prepaid, debit, credit or commercial cards or card based payments based on these are chosen
Amendment 297 #
Proposal for a regulation Article 10 – paragraph 4 4. Issuing payment service providers shall ensure that their payment instruments are visibly and electronically identifiable, enabling payees and payers to identify unequivocally which brands and categories of prepaid, debit, credit or commercial cards or card based payments based on these are chosen by the payer.
Amendment 298 #
Proposal for a regulation Article 11 – paragraph 3 Amendment 299 #
Proposal for a regulation Article 11 – paragraph 3 3. Paragraphs 1 and 2 are without prejudice to the rules on charges, reductions or other steering set out in Article 55 of
Amendment 30 #
Draft legislative resolution Paragraph 2 2. Calls on the Commission to
Amendment 300 #
Proposal for a regulation Article 12 – paragraph 1 – subparagraph 2 With the payee's prior and explicit consent the information referred to in the first subparagraph may be aggregated by brand, application, payment instrument categories or by statistic indicators of payment transactions and rates of interchange fees applicable to the transaction.
Amendment 301 #
Proposal for a regulation Article 13 – paragraph 6 6. Member States shall require the competent authorities to monitor compliance with this Regulation effectively, to concede temporally limited waivers motived by objective evidence and to take all necessary measures to ensure such compliance.
Amendment 302 #
Proposal for a regulation Article 14 – paragraph 1 1. Member States shall lay down rules on the sanctions applicable to infringements of this Regulation and shall take all measures necessary to ensure that they are applied.
Amendment 303 #
Proposal for a regulation Article 14 – paragraph 2 a (new) 2a. EBA shall be in charge of issuing guidelines to ensure sanctions are effective, proportionate and dissuasive.
Amendment 304 #
Proposal for a regulation Article 14 – paragraph 2 a (new) 2a. EBA shall be empowered to issue guidelines to ensure sanctions are effective, proportionate and dissuasive.
Amendment 305 #
Proposal for a regulation Article 15 – paragraph 1 1. Member States shall establish adequate and effective out-of-court complaint and redress procedures for the settlement of disputes arising under this Regulation between payees and their payment service providers. For those purposes, Member States shall designate existing bodies, where appropriate, or establish new bodies. Payment service providers shall be required to adhere to at least one alternative dispute resolution body.
Amendment 306 #
Proposal for a regulation Article 15 – paragraph 2 a (new) 2a. Member States shall ensure that payment service providers participate in complaint procedures pursuant to paragraph 1.
Amendment 307 #
Proposal for a regulation Article 16 – paragraph 1 Amendment 308 #
Proposal for a regulation Article 16 – paragraph 1 Amendment 309 #
Proposal for a regulation Article 16 – paragraph 1 Amendment 31 #
Proposal for a regulation Recital 7 (7) Preparation of legislation is under way in several Member States21 to regulate interchange fees, covering a number of issues, including caps on interchange fees
Amendment 310 #
Proposal for a regulation Article 16 – paragraph 1 Four years after the entry into force of this Regulation, the Commission shall present to the European Parliament and to the Council a report on the application of this Regulation. The Commission's report shall look in particular at the appropriateness of the levels of interchange fees, and at steering mechanisms such as charges, and at the impact of this Regulation on consumers (including the increase of fees charges by payer's service provider to the payer any increase and any reduction in retail prices) and small merchants, taking into account the use and cost of the various means of payments and the level of entry of new players and new technology on the market.
Amendment 311 #
Proposal for a regulation Article 16 – paragraph 1 Amendment 312 #
Proposal for a regulation Article 16 – paragraph 1 Amendment 313 #
Proposal for a regulation Article 16 – paragraph 1 Four years after the entry into force of this Regulation, the Commission shall present to the European Parliament and to the Council a report on the application of this Regulation. The Commission's report shall look in particular at the appropriateness of the levels of interchange fees and at steering mechanisms such as charges, taking into account the use and cost of the various means of payments and the level of entry of new players
Amendment 314 #
Proposal for a regulation Article 16 – paragraph 1 Amendment 315 #
Proposal for a regulation Article 16 – paragraph 1 a (new) The assessment and report by the Commission shall, if appropriate, be followed by legislative measures that may include a revision of the maximum cap for interchange fees.
Amendment 316 #
Proposal for a regulation Article 17 – paragraph 1 This Regulation shall enter into force on the
Amendment 317 #
Proposal for a regulation Article 17 – paragraph 1 This Regulation shall enter into force
Amendment 318 #
Proposal for a regulation Article 17 – paragraph 1 This Regulation shall enter into force
Amendment 32 #
Proposal for a regulation Recital 8 (8) Payment cards are the most frequently used electronic payment instrument for retail purchases.
Amendment 33 #
Proposal for a regulation Recital 9 (9) To enable the internal market to function effectively, the use of electronic payments should be promoted and facilitated to the benefit of retailers and consumers. Cards and other electronic payments can be used in a more versatile manner, including possibilities to pay online in order to take advantage of the internal market and e-commerce, whilst electronic payments also provide retailers with potentially secure payments. Card and card based payments instead of cash use could therefore be beneficial for retailers and consumers, provided the fees for the use of the payment systems are set at an economically efficient level, whilst contributing to fair competition, innovation and market entry of new operators.
Amendment 34 #
Proposal for a regulation Recital 10 (10)
Amendment 35 #
Proposal for a regulation Recital 10 (10) One of the key practices hindering the functioning of the internal market in card and card-based payments is the widespread existence of interchange fees, which are in most Member States not subject to any
Amendment 36 #
Proposal for a regulation Recital 11 (11) The currently existing wide variety of interchange fees and their level prevent the emergence of 'new' pan Union players on the basis of business models with lower interchange fees, to the detriment of potential economies of scale and scope and their resulting efficiencies. This has a negative impact on retailers and consumers and prevents innovation. As Pan-Union players would have to offer issuing banks as a minimum the highest level of interchange fee prevailing in the market
Amendment 37 #
Proposal for a regulation Recital 11 (11) The currently existing wide variety of interchange fees and their level prevent the emergence of ‘new’ pan Union players on the basis of business models with lower or no interchange fees, to the detriment of potential economies of scale and scope and their resulting efficiencies. This has a negative impact on retailers and consumers and prevents innovation. As Pan-Union
Amendment 38 #
Proposal for a regulation Recital 15 (15) This Regulation
Amendment 39 #
Proposal for a regulation Recital 15 (15)
Amendment 40 #
Proposal for a regulation Recital 16 (16) As a consequence of unilateral undertakings and commitments accepted in the framework of competition proceedings, many cross-border card payment transactions in the Union are already carried out respecting the maximum interchanges fees
Amendment 41 #
Proposal for a regulation Recital 16 (16) As a consequence of unilateral
Amendment 42 #
Proposal for a regulation Recital 17 Amendment 43 #
Proposal for a regulation Recital 17 (17) For domestic transactions, a transition period is necessary to provide payment services providers and schemes with time to adapt to the new requirements. Therefore, after a two year period following the entry into force of this Regulation and in order to provide for a completion of an internal market for card- based payments, the
Amendment 44 #
Proposal for a regulation Recital 17 (17) For domestic transactions, a transition period is necessary to provide payment services providers and schemes with time to adapt to the new requirements and to take account of the significant differences in payment habits in Member States. Therefore, after a
Amendment 45 #
Proposal for a regulation Recital 17 (17) For domestic transactions, a transition period is necessary to provide payment services providers and schemes with time to adapt to the new requirements. Therefore, after a
Amendment 46 #
Proposal for a regulation Recital 17 (17) For domestic transactions, a short transition period is necessary to provide payment
Amendment 47 #
Proposal for a regulation Recital 17 (17) For domestic transactions, a transition period
Amendment 48 #
Proposal for a regulation Recital 17 (17) For domestic transactions, a transition period is necessary to provide payment services providers and schemes with time to adapt to the new requirements. Therefore, after a
Amendment 49 #
Proposal for a regulation Recital 17 (17) For domestic transactions, a transition period is necessary to provide payment services providers and schemes with time to adapt to the new requirements. Therefore, after a
Amendment 50 #
Proposal for a regulation Recital 17 (17) For domestic transactions, a transition period is necessary to provide payment services providers and schemes with time to adapt to the new requirements. Therefore, after a
Amendment 51 #
Proposal for a regulation Recital 17 (17) For domestic transactions, a transition period is necessary to provide payment services providers and schemes with time to adapt to the new requirements. Therefore, after
Amendment 52 #
Proposal for a regulation Recital 18 (18) In order to facilitate cross border acquiring all (cross-border and domestic)
Amendment 53 #
Proposal for a regulation Recital 18 (18) In order to facilitate cross border acquiring all (cross-border and domestic)
Amendment 54 #
Proposal for a regulation Recital 18 (18) In order to facilitate cross border acquiring all (cross-border and domestic) ‘consumer’ debit card transactions and card based payment transaction should
Amendment 55 #
Proposal for a regulation Recital 18 (18) In order to facilitate cross border acquiring all (cross-border and domestic)
Amendment 56 #
Proposal for a regulation Recital 18 (18) In order to facilitate cross border acquiring all (cross-border and domestic) ‘consumer’ debit card transactions and card based payment transaction should have a maximum interchange fee of 0,2
Amendment 57 #
Proposal for a regulation Recital 18 (18) In order to facilitate cross border acquiring all (cross-border and domestic) ‘consumer’ debit
Amendment 58 #
Proposal for a regulation Recital 18 (18) In order to facilitate cross border acquiring, after an appropriate transitional period, all (cross-border and domestic) ‘consumer’ debit card transactions and card based payment transaction should have a maximum interchange fee of 0,20% and all (cross- border and domestic) consumer credit card transactions and card based payment transactions based on those should have a maximum interchange fee of 0.30%.
Amendment 59 #
Proposal for a regulation Recital 18 (18) In order to facilitate cross border acquiring all (cross-border and domestic) ‘consumer’ debit card transactions and card based payment transaction should have a maximum interchange fee of 0,
Amendment 60 #
Proposal for a regulation Recital 18 a (new) (18a) The impact assessment shows that a prohibition of interchange fees for debit card transactions would be beneficial for card acceptance, card usage, development of the single market and generate more benefits to merchants and consumers than a cap set at any higher level. Moreover it would avoid that national systems with very low or zero interchange fees for debit transaction would be negatively affected by a higher cap due to cross border expansion or new market entrants increasing fee levels to the level of the cap. A ban on interchange fees for debit card transactions also addresses the threat of exporting the interchange fee model to new, innovative payment services such as mobile and online systems.
Amendment 61 #
Proposal for a regulation Recital 19 (19) Those caps are
Amendment 62 #
Proposal for a regulation Recital 19 (19) Th
Amendment 63 #
Proposal for a regulation Recital 19 a (new) (19a) In line with the basic principles of the single market, acquirers should be able to provide their services to merchants throughout the Union with the MIFs they apply in their home market, but they should not apply higher ones cross- border.
Amendment 64 #
Proposal for a regulation Recital 20 (20) This Regulation should cover all transactions where the payer's payment service provider
Amendment 65 #
Proposal for a regulation Recital 22 Amendment 66 #
Proposal for a regulation Recital 22 (22) Payment card transactions are generally carried out on the basis of two main business models, so-called three party payment card schemes (cardholder – acquiring and issuing scheme - merchant) and four party payment card schemes (card holder- issuing bank- acquiring bank- merchant). Many four payment card party schemes are using an explicit interchange fee, mostly multilateral. Interchange fees (fees paid by acquiring banks to incentivise card issuing and card use) are implicit in three party payment card schemes. To acknowledge the existence of implicit interchange fees and contribute to the creation of a level playing field, three party payment card schemes using payment service providers as issuers or acquirers should be considered as four party payment card schemes and should follow the same rules, whilst transparency and other measures related to business rules should apply to all providers. Three party schemes should accept transactions made using their cards from any acquirer based on general card transaction standards and acquiring rules comparable to the merchant rules for the specific three party schemes and with interchange caps in accordance with this Regulation.
Amendment 67 #
Proposal for a regulation Recital 23 (23) It is important to ensure that the provisions concerning the interchange fees to be paid or received by payment service providers are not circumvented by alternative flows of fees to issuing payment services providers. To avoid this, the
Amendment 68 #
Proposal for a regulation Recital 23 (23) It is important to ensure that the provisions concerning the interchange fees to be paid or received by payment service providers are not circumvented by alternative flows of fees to issuing payment services providers. To avoid this, the "net compensation" of fees paid and received by the issuing payment service provider from a payment card scheme should be considered as the interchange fee. When calculating the interchange fee, for the purpose of checking whether circumvention is taking place the total amount of payments or incentives received by an issuing payment services provider from a payment card scheme with respect to the regulated transactions less the fees paid by the issuing payment services provider to the scheme should be taken into account. Payments, incentives and fees considered could be direct (i.e. volume- based or transaction-specific) or indirect
Amendment 69 #
Proposal for a regulation Recital 23 (23) It is important to ensure that the provisions concerning the interchange fees to be paid or received by payment service providers are not circumvented by alternative flows of fees to issuing payment services providers. To avoid this, the ‘net compensation’ of fees paid and received by the issuing payment service provider including possible authorisation charges from a payment card scheme should be considered as the interchange fee. When calculating the interchange fee, for the purpose of checking whether circumvention is taking place the total amount of payments or incentives received by an issuing payment services provider from a payment card scheme with respect to the regulated transactions less the fees paid by the issuing payment services provider to the scheme should be taken into account. Payments, incentives and fees considered could be direct (i.e. volume- based or transaction-specific) or indirect
Amendment 70 #
Proposal for a regulation Recital 25 (25) A separation of scheme and infrastructure should allow all processors to compete for customers of the schemes. As the cost of processing is a significant part of the total cost of card acceptance, it is important for this part of the value chain to be opened to effective competition. On the basis of the separation of scheme and infrastructure, card schemes and processing entities should be independent in terms of legal form, organisation and decision making process. They should not discriminate, for instance by providing each other with preferential treatment or privileged information which is not available to their competitors on their respective market segment, imposing excessive information requirements on their competitor in their respective market segment, cross-subsidizing their respective activities or having shared governance arrangements. Such discriminatory practises contribute to market fragmentation, negatively impact market entry by new players and prevent pan-
Amendment 71 #
Proposal for a regulation Recital 25 a (new) (25a) Member States should retain the possibility of waiving application of the rule requiring strict and total separation of payment card schemes and processing entities for newly established card schemes. Applying this rule to new schemes would impose high business costs on them from the outset which are disproportionate to their market position in relation to existing major card schemes. Preferences for newly established card organisations should help to promote competition in the non- cash payments market more effectively.
Amendment 72 #
Proposal for a regulation Recital 28 (28)
Amendment 73 #
Proposal for a regulation Recital 28 (28) In accordance with Article 55of the proposal COM (2013)547 the payee can steer the payer towards the use of a specific payment instrument. However, no extra charges should be requested by the payee for the use of debit card payment instruments of which interchange fees are regulated within the scope of this Regulation,
Amendment 74 #
Proposal for a regulation Recital 29 Amendment 75 #
Proposal for a regulation Recital 29 Amendment 76 #
Proposal for a regulation Recital 29 Amendment 77 #
Proposal for a regulation Recital 29 (29) The Honour all Cards Rule is a twofold obligation imposed by issuing payment services providers and payment card schemes on payees to, on the one hand, accept all the cards of the same brand ('Honour all Products' - element), irrespective of the different costs of these cards, and on the other hand irrespective of the individual issuing bank which has issued the card ('Honour all Issuers' – element). It is in the interest of the consumer that for the same category of cards the payee cannot discriminate between issuers or cardholders, and payments schemes and payment service providers can impose such obligation on them. Therefore, although the 'Honour all Issuers' element of the Honour all Cards Rule is a justifiable rule within a payment card system, since it prevents that payees from discriminating between the individual banks which have issued a card, the 'Honour all Products' element is essentially a tying practice that has the effect of tying acceptance of low fee cards to acceptance of high fee cards. A removal of the
Amendment 78 #
Proposal for a regulation Recital 29 (29) The Honour all Cards Rule is a twofold obligation imposed by issuing payment services providers and payment card schemes on payees to, on the one hand, accept all the cards of the same brand (
Amendment 79 #
Proposal for a regulation Recital 30 (30)
Amendment 80 #
Proposal for a regulation Recital 30 (30)
Amendment 81 #
Proposal for a regulation Recital 30 (30) For the effective functioning of the limitations to the Honour All Cards Rule certain information is indispensable. First, payees and payers should have the means to identify the different categories of cards. Therefore, the various categories should be identifiable visibly and electronically, either on the device or on the payment terminal. Secondly, also the payer should be informed about the acceptance of his payment instrument(s) at a given point of sale. It is necessary that any limitation on the use of a given brand to be announced by the payee to the payer, at the latest at the same time and under the same conditions as the information that a given brand is accepted.
Amendment 82 #
Proposal for a regulation Recital 30 (30) For the effective functioning of the limitations to the Honour All Cards Rule certain information is indispensable. First, payees and payers should have the means to identify the different categories of cards. Therefore, the various categories should be identifiable visibly and electronically on the device or the terminal as appropriate. Secondly, also the payer should be
Amendment 83 #
Proposal for a regulation Recital 30 a (new) (30a) A payment is an agreement between the payer and the payee. In order for competition between brands to be effective, it is important that the choice of payment application should be made by users, not imposed by the upstream market, comprising payment card systems, payment service providers or processors. This does not prevent payers and payees from setting an automatic choice of application, where technically feasible, provided that this choice can be changed for each transaction. If the payee selects an application supported by both, the user must be able to reject it and opt for his own preferred application.
Amendment 84 #
Proposal for a regulation Recital 33 a (new) (33a) The regulation of interchange fees is not applicable to three part schemes as payer and payee have the same payment service provider. Payment cards relying on four part schemes and payment cards relying on three part schemes are, however, perceived by consumers as substitutes and could be used for the same types of transactions. The Commission should therefore ensure that appropriate and comparable regulation for three party schemes is introduced in due time.
Amendment 85 #
Proposal for a regulation Article 1 – paragraph 1 1. This Regulation lays down uniform technical and business requirements for card based payment
Amendment 86 #
Proposal for a regulation Article 1 – paragraph 1 1. This Regulation lays down uniform technical and business requirements for payment card and digital wallet transactions carried out within the Union, where
Amendment 87 #
Proposal for a regulation Article 1 – paragraph 1 1. This Regulation lays down uniform technical and business requirements for card based payment
Amendment 88 #
Proposal for a regulation Article 1 – paragraph 1 1. This Regulation lays down uniform technical and business requirements for payment card based payment transactions carried out within the Union, where both the payee and the payer's payment service provider and the payee's payment service provider are
Amendment 89 #
Proposal for a regulation Article 1 – paragraph 1 1. This Regulation lays down uniform technical and business requirements for payment card and digital wallet transactions carried out within the Union, where both the payer's payment service provider and the payee's payment service provider are established therein.
Amendment 90 #
Proposal for a regulation Article 1 – paragraph 1 1. This Regulation lays down uniform technical and business requirements for payment card transactions carried out within the Union, where
Amendment 91 #
Proposal for a regulation Article 1 – paragraph 2 2. This Regulation does not apply to payment instruments that can be used only within a limited network designed to address precise needs through payment instruments only to be used in a limited way, because they allow the specific instrument holder to acquire goods or services only in the premises of the issuer, within a limited network of service providers under a direct commercial agreement with a professional issuer, or because they can be used only to acquire a
Amendment 92 #
Proposal for a regulation Article 1 – paragraph 3 – introductory part 3. Unless Member States establish otherwise, Chapter II does not apply to the following:
Amendment 93 #
Proposal for a regulation Article 1 – paragraph 3 – point a Amendment 94 #
Proposal for a regulation Article 1 – paragraph 3 – point a Amendment 95 #
Proposal for a regulation Article 1 – paragraph 3 – point a Amendment 96 #
Proposal for a regulation Article 1 – paragraph 3 – point a Amendment 97 #
Proposal for a regulation Article 1 – paragraph 3 – point a (a)
Amendment 98 #
Proposal for a regulation Article 1 – paragraph 3 – point b (b) cash withdrawals at automatic teller machines and cash disbursements at the counter of payment service providers' premises, and
Amendment 99 #
Proposal for a regulation Article 1 – paragraph 3 – point c source: PE-524.782
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