EC to probe barriers to payments integration
06 January 2012 | 9337 views | 4
The European Commission will next week present a paper outlining obstacles hindering further integration in the European market for card, Internet and mobile payments and how these could be resolved.
The launch of the paper will kick-start a four-month long consultation process "to help identify the right way to improve market integration and ensure effective competition in mobile and electronic payment technologies".
The main issues identified in the paper and on which the Commission is seeking views are:
• Market access and entry for existing and new service providers
• Payment security and data protection
• Transparent and efficient pricing of payment services
• Technical standardisation
• Inter-operability between service providers.
The deadline for submitting contributions to the consultation will be 11 April 2012.