MasterCard fully supports the European Commission’s goal of encouraging more secure, efficient, competitive and innovative electronic payments, which will enable consumers, retailers and other key stakeholders to enjoy the full benefits of the EU internal market and pledges to work with the Commission to achieve this goal. Javier Perez, President of MasterCard Europe, said:
“While we support the Commission’s goals, we are concerned that some of the legislative proposals introduced today, such as the caps on interchange fees and restrictions on the Honour-All- Cards Rule, do not support these goals and will actually harm and inconvenience consumers and small merchants, as well as hinder competition and innovation in the European payments landscape. We look forward to working with the Commission, the EU Parliament and the EU Council of Ministers during the legislative process to help create a regulatory framework that promotes the growth of electronic payments while preserving the value of electronic payments for both consumers and merchants.”
