EU lawmakers back cheaper cross-border payments

EU lawmakers back cheaper cross-border payments


European Union lawmakers on May 1 supported new rules to simplify cross-border payments by credit and debit cards as well as electronic bank transfers across Europe. Under the new legislation adopted by the European Parliament in Strasbourg, payments within the 27-member EU are expected to become easier, cheaper and more secure. Europe’s payments industry has said it will implement the new directive by the end of 2009. Credit and debit cards issued in one EU country will then be accepted by bank...


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