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.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.