How the Proposed Payments Legislation Will Restrain Competition Among Payment Card Schemes and Harm Consumers in the European Union

This article is part of a Chronicle. See more from this Chronicle

David Evans, Oct 15, 2014

The European Parliament, in early April 2014, endorsed and further extended draft legislation, originally proposed by the European Commission, which will impose sweeping regulation on payment card businesses. The backers of the legislation claim that it will nurture competition, innovation, and consumer choice in the European Union. In fact, if adopted in the current form, it will reduce competition among payment systems in the EU, impede the entry of new schemes, weaken innovation, and decrease co…

ACCESS TO THIS ARTICLE IS RESTRICTED TO SUBSCRIBERS

Please sign in or join us
to access premium content!