2007 is the run-up year to SEPA and it will also see the European Commission decision in the case against MasterCard and most likely the re-opening of the case against Visa surrounding their anti-competitive practices. EuroCommerce has recently launched several initiatives to reinforce Europe’s conviction that action is necessary against anti-competitive price-fixing practices and monopolies. About 30 senior finance executives of European retail companies have joined together to support the European institutions’ objective of realising a single market for payments. At stake is the abolition of Visa’s and MasterCard’s interchange fees for both debit and credit cards. “Senior finance executives fear that SEPA will lead to efficient national debit schemes being taken over by Maestro and V Pay. These schemes are more lucrative for banks and more expensive for retailers and shoppers. We have witnessed this in several EU countries,” said Xavier R. Durieu, EuroCommerce Secretary General. EuroCommerce has launched a Manifesto on Payment Systems, entitled “Making payments work in Europe”, which outlines the issues European retailers encounter with payment systems today (such as the infamous Interchange Fee) and proposes solutions to improve the payment systems market.
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