GRTU welcomes MEP vote on reducing card payment fees

The GRTU (General Retailers and Traders Union) expressed its satisfaction with yesterday’s European Parliament vote in which MEPs supported the capping of costs of all credit and debit cards across Europe. The Union was especially pleased that member states were even allowed to set even lower caps.

“This is a crucial step towards savings for retailers and better prices for consumers across Europe,” the GRTU said in a statement issued today.

The GRTU said that it had been “fighting the battle” against excessive card fees for a long time with yesterday’s vote serving as a “great result”.

“We are especially pleased at the Parliament’s inclusion of commercial cards in the caps, the earlier implementation date at domestic level and the removal of the ‘honour all cards’ rule,” it said.

The legislation will now go to the European Council and will also have to be ratified during a second reading in the new European Parliament after the upcoming elections in May.

“We call on the Council, and in particular the upcoming Italian Presidency, to take up the dossier as a matter of urgency. The reforms in this regulation are essential for the future development and competitiveness of the payments sector in Europe.”

Describing it as an “important and first step”, the GRTU said that there was still a long way to go.

“We trust yesterday’s vote will send a strong message to the member states in Council, and to all returning and new MEPs in the next Parliament, that Europe needs forward-looking legislation which will encourage competition and innovation, bringing great benefits to Europe’s merchants and consumers.”

In the statement, the GRTU said that had written to all the Maltese MEPs this week asking them to support this position.

During the same Plenary session the Parliament also voted in favour of reducing roaming charges, which the Union described as being another “very positive vote” for travelling persons, whether on business or leisure.