MasterCard has lost a seven-year battle with the European Commission over the validity of its interchange fees for cross-border card payments, following a decisive judgement at the EU's highest court.
New EU-wide technical standards have been agreed that will help users of Radio Frequency Identification (RFID) smart chips and systems comply with EU Data Protection rules and the Commission's 2009 recommendation on RFID (see IP/09/740). A "data protection impact assessment" process has also been agreed.
The European Commission is looking for Europe's best startups in this year's Tech All Stars competition.
Members of the European Parliament have voted through new rules designed to clamp down on high-frequency trading 'Flash Boys'.
Communication on crowdfunding in the European Union - Frequently Asked Questions
Anyone legally residing in the EU should have the right to open a basic payment account, and this right should not be denied on grounds of nationality or place of residence, Parliament's negotiators and the Council representatives agreed on Thursday.
The ultimate owners of companies and trusts would have to be listed in public registers in EU countries, under draft anti-money laundering rules voted by Parliament on Tuesday.
The EC has accepted Visa Europe's promise to cap its multilateral interchange fees (MIFs) for cross-border credit card payments at 0.3%.
The fees that banks charge retailers for processing shoppers' payments should be capped, Economic and Monetary Affairs Committee MEPs decided in a vote on Thursday.
The European Parliament has voted in favour of proposals to extend the migration deadline for processing Sepa-compliant payment transfers by six months, to August 2014.
© Finextra Research 2014