Local view for "http://purl.org/linkedpolitics/eu/plenary/2015-03-10-Speech-2-270-337"
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"en.20150310.32.2-270-337"2
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"I voted in favour of this report for which I was shadow rapporteur. The situation to date has been that interchange fees for card-based payments, paid by the merchantʼs bank to the bank that issued the card, have not been transparent and they differ between EU countries, where they are subject in some cases to legislation and in others to decisions by national competition authorities. The positive vote means in practice that cross-border debit card transaction fees will now be capped at 0.2 % of the transaction value. For credit card transactions, a fee cap of 0.3 % of the transaction value will apply. Member States, including Ireland, can decide to impose a lower cap if they so wish.
These changes will be a positive development for customers and for Irish businesses operating on a cross-border basis. During discussions at preparatory meetings of the Committee on Economic and Monetary Affairs I urged that the issue of cross-border transactions be included in any caps as this is particularly important in an Irish context where we need to break down all barriers in order to create an effective all-Ireland economy."@en1
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