EU plan for payments

The European Commission has put forward proposals, 1 December 2005, that will bring down existing legal barriers to enable the creation of a 'Single Payments Area' in the EU that could save the EU economy €50-100 billion per year. The aim is to make cross-border payments – by credit card, debit card, electronic bank transfer, direct debit or any other means – as easy, cheap and secure as 'national' payments within one Member State.

European Commission: DG Internal Market and Services: Free movement of services: Financial Services: Payment services http://ec.europa.eu/comm/internal_market/payments/index_en.htm

European Commission: Press Release: IP/05/1514 http://europa.eu/rapid/pressReleasesAction.do?reference=IP/05/1514&format=HTML&aged=0&language=EN&guiLanguage=en

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