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European Cards Working Group - Summary of Findings and Recommendations |
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Cards are an important payment instrument for the European citizen and their usage may grow even further in coming years, as cash and paper-based instruments are gradually substituted: card-based transactions account already for about one third of all non-cash transactions conducted in the EU and for 83% of all cross-border non-cash transactions. Nevertheless, the rather heterogeneous legacy situation, irrespective of the quality and efficiency of the service delivered by the various participants, should be noted - a situation further compounded, from 2002, by the impact of the introduction of the physical euro and the implementation of Regulation 2560/2001/EC on cross-border payments in euro1. This was the reason for rather different views and future strategy orientations expressed at that time by countries and banks that have had, or face the above experience.
http://www.europeanpaymentscouncil.org/EPC0303_Summary_CardsWG_FsRs.pdf |
