EPFSF report on payments

27 January 2004

The European Parliaments Financial Services Forum (EPFSF) held a meeting on card payments and credit transfers. According to the Report, these are already well functioning in a pan-European area and correctly charged by intermediaries as provided by the Regulation on cross-border payments in euro.

However, though the European banking sector was prepared and already organised for high-value cross border credit transfers (TARGET and EURO1), it was not as developed for retail payments which while increasing in number, still represent a very small part of the total number of transactions, which for the most part remain national and heterogeneous.

Full report

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