[ParlTrack]

Proposal for a regulation
Recital 17

(17) For domestic transactions, a transition period is necessary to provide payment services providers and schemes with time to adapt to the new requirements. Therefore, after a two year period following the entry into force of this Regulation and in order to provide for a completion of an internal market for card-based payments, the caps on interchange fees for consumer card transactions should be extended to cover all, cross-border and domestic payment, caps on a weighted average will be set up in order to allow for technological innovations and reflect the various levels of development in the card payment markets in the different member states.

2013/12/12
Committee: IMCO

Preslav BORISSOV

Proposal for a regulation
Recital 18

(18) In order to facilitate cross border acquiring all (cross-border ~~and domestic)~~ ‘consumer’ debit card transactions and card based payment transaction should have a maximum interchange fee of 0,20% and all (cross- border ~~and domestic)~~ consumer credit card transactions and card based payment transactions based on those should have a maximum interchange fee of 0.30%.

2013/12/12
Committee: IMCO

Preslav BORISSOV

Proposal for a regulation
Recital 29

(29) The Honour all Cards Rule is a twofold obligation imposed by issuing payment services providers and payment card schemes on payees to, on the one hand, accept all the cards of the same brand (‘Honour all Products’ - element), irrespective of the different costs of these cards, and on the other hand irrespective of the individual issuing bank which has issued the card (‘Honour all Issuers’ – element). It is in the interest of the consumer that for the same category of cards the payee cannot discriminate between issuers or cardholders, and payments schemes and payment service providers can impose such obligation on them. Therefore, although the ‘Honour all Issuers’ element of the Honour all Cards Rule is a justifiable rule within a payment card system, since it prevents that payees from discriminating between the individual banks which have issued a card, the ‘Honour all Products’ element is essentially a tying practice that has the effect of tying acceptance of low fee cards to acceptance of high fee cards. A removal of the ‘Honour all Products’ element of the Honour All Cards Rule would allow merchants to limit the choice of payment cards they offer to low(er) cost payment cards only, which would also benefit consumers through reduced merchants' costs. Merchants accepting debit cards would then not be forced also to accept credit cards, and those accepting credit cards would not be forced to accept commercial cards. However, to protect the consumer and his ability to use the payment cards as often as possible, merchants should be obliged to accept all cards that are subject to the same regulated interchange fee. Such a limitation would also result in a more competitive environment for cards with interchange fees not regulated under this Regulation, as merchants would gain more negotiating power as regards the conditions under which they accept such cards.deleted

2013/12/12
Committee: IMCO

Preslav BORISSOV

Proposal for a regulation
Recital 30

(30) For the effective functioning of the limitations to the Honour All Cards Rule certain information is indispensable. First, payees should have the means to identify the different categories of cards. Therefore, the various categories should be identifiable visibly and electronically on the device. Secondly, also the payer should be informed about the acceptance of his payment instrument(s) at a given point of sale. It is necessary that any limitation on the use of a given brand to be announced by the payee to the payer at the same time and under the same conditions as the information that a given brand is accepted.deleted

2013/12/12
Committee: IMCO

Preslav BORISSOV

Proposal for a regulation
Recital 31

(31) In order to ensure that redress is possible where this Regulation has been incorrectly applied, or where disputes occur between payment services users and payment services providers, Member States should establish adequate and effective out-of-court complaint and redress procedures. Member States, following guidelines set up by the European Banking Authority, should lay down rules on the penalties applicable to infringements of this Regulation and should ensure that those penalties are effective, proportionate and dissuasive and that they are applied.

2013/12/12
Committee: IMCO

Preslav BORISSOV

Proposal for a regulation
Article 2 – paragraph 1 – point 25 a (new)

(25a) 'weighted average' means in relation to interchange fees the total amount of credit card or debit card interchange fees paid divided by the total amount of related transactions over the same period;

2013/12/12
Committee: IMCO

Preslav BORISSOV

Proposal for a regulation
Article 4 – title

Interchange fees for ~~all~~ consumer debit or credit card transactions at national level

2013/12/12
Committee: IMCO

Preslav BORISSOV

Proposal for a regulation
Article 4 – paragraph 1

1. With effect from two years after the entry into force of this Regulation, payment service providers shall not offer or request a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0,2 % on a weighted average of the value of the transaction for any debit card based transactions.

2013/12/12
Committee: IMCO

Preslav BORISSOV

Proposal for a regulation
Article 4 – paragraph 2

2. With effect from two years after the entry into force of this Regulation, payment service providers shall not offer or request a per transaction interchange fee or other agreed remuneration with an equivalent object or effect of more than 0,3 % on a weighted average of the value of the transaction for any credit card based transactions.

2013/12/12
Committee: IMCO

Preslav BORISSOV

Proposal for a regulation
Article 4 – paragraph 2 a (new)

2a. Member States shall be able to maintain or introduce lower caps or measures of equivalent object or effect through national legislation.

2013/12/12
Committee: IMCO

Preslav BORISSOV

Proposal for a regulation
Article 8 – paragraph 1 a (new)

1a. When entering into a contractual agreement with a payment service provider, the consumer shall be given the possibility to decide whether or not he needs two or more different brands of payment instruments on his card, telecommunication, digital or IT device. Before signing the contract, the payment service provider shall provide the consumer with clear and objective information on the payment brands available and their characteristics related to use, functionalities, cost and security.

2013/12/12
Committee: IMCO

Preslav BORISSOV

Proposal for a regulation
Article 10

Article 10 Honour All Card rules 1. Payment schemes and payment service providers shall not apply any rule that may oblige payees accepting cards and other payment instruments issued by one issuing payment service provider within the framework of a payment instruments scheme to also accept other payment instruments of the same brand and/or category issued by other issuing payment service providers within the framework of the same scheme, except if they are subject to the same regulated interchange fee. 2. The restriction of Honour all card rules referred to in paragraph 1 is without prejudice to the possibility for payments schemes and payment service providers to provide that certain cards may not be refused on the basis of the identity of the issuing payment service provider or of the cardholder. 3. Merchants deciding not to accept all cards or other payment instruments of a payment card scheme shall inform consumers in a clear and unequivocal manner at the same time as they inform the consumer on the acceptance of other cards and payment instruments of the scheme. That information shall be displayed prominently at the entrance of the shop, at the till or on the website or other applicable electronic or mobile medium, and shall be provided to the payer in good time before he enters into a purchase agreement with the payee. 4. Issuing payment service providers shall ensure that their payment instruments are visibly and electronically identifiable, enabling payees to identify unequivocally which brands and categories of prepaid, debit, credit or commercial cards or card based payments based on these are chosen by the payer.deleted

2013/12/12
Committee: IMCO

Preslav BORISSOV

Proposal for a regulation
Article 14 – paragraph 2 – point 1 (new)

(1) The European Banking Authority shall be in charge of issuing guidelines for effective, proportionate and dissuasive sanctions

2013/12/12
Committee: IMCO

13 Amendments of Preslav BORISSOV related to 2013/0265(COD)

ParlTrack - 2011-2024