Payment Systems Committee
Chairman: Graham Austin
Advisers: Cécile Grégoire, Ruth Milligan
Assistant: Elen Guedes
"MasterCard's MIF therefore acts like a "tax on consumption" paid not only by
card users but also by customers using cash and cheques."
Neelie Kroes, Commissioner for Competition, 19 December 2007
After the important studies and publications of 2006, and the major successes of 2007, 2008 has been a year of transition, with less spectacular developments but continued investigation.
A year after its official launch, traders have not yet seen any of the promised benefits of SEPA. The MasterCard complaint followed the procedural path to appeal, while the investigation on Visa and the commercial cards cases continued. The European Commission and the European Central Bank took a strong stand against the MIF in direct debits and are contemplating regulation.
Undoubtedly, 2009 will be another year of achievement, with the end of this Commission and Parliament mandate, the implementation of the Payment Services Directive, continued progress in the field of SEPA and further major steps towards conclusions to the Visa and MasterCard cases.
For further information, please see also: