FROM THE EUROPEAN BANKING FEDERATION:
EBA Consultation on draft Guidelines on the limited network exclusion under PSD2: EBF Response
BRUSSELS, 18 OCTOBER – The EBF has responded to the EBA Consultation on draft Guidelines on the limited network exclusion under PSD2.
Our response highlights that a transparent and clear application of the exemptions is relevant from a consumer protection perspective. When paying with a card that is issued under the limited network exclusions, consumers cannot benefit from those consumer protection rules that apply under PSD2. Also, a harmonised interpretation is also vital in terms of competition reasons, since there is a large cost difference in offering a service exempt from PSD2 compared to services in the scope. A more harmonised application of the exemptions would support a more level playing field.
Anni Mykkanen, Senior Adviser, Payments & Innovation email@example.com
ABOUT THE EBF:
The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from across Europe. The EBF is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere.