While Mastercard welcomed the European Commission’s decision not to abolosh interchange fees, they accuse the competition commissioner Neelie Kroes of leaving the interchange debate “in a cloud of uncertainty that could deter further investment in SEPA initiatives”. According to MasterCard the uncertainty over interchange fees may deter banks from further investing in SEPA. As the Jan 1 2008 deadline to implement SEPA for the European banking system approaches, MasterCard said it needed a ‘clear green light’ from the commission on the interchange issue, ‘not a yellow one.’ Mastercard noted that abolishing or reducing interchange fees would damage the efficiency of the card payments network. President of MasterCard Europe, Javier Perez, said: ‘Zero or low-interchange fee schemes are often based on price regulation, cross-subsidisation or operating losses.’
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more