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~ Wijnand Jongen ~

But more needs to be done
Exploring alternative payment solutions, such as the digital
euro, or instant transfers, is essential to creating a payment
ecosystem that benefits both merchants and consumers.
In that regard, the recent evolution of the EU legislative
framework has been crucial. However, merchants are still
facing a number of challenges. From the imposition of new
fees with little justifications, to the lack of clear information
and transparency on the costs associated with each payment
solution, merchants are left with little bargaining power
and incentives to switch to the most beneficial providers.
As a result, payment prices go up and so do retail prices for
consumers.

There remains an urgent need to establish healthy
competition in Europe’s payments market. To that end,
BECOME OUR
policymakers at EU and national level need to ensure the
proper enforcement of the current rules and take action when
appropriate to combat measures imposed by dominant players
on merchants. On their side, merchants need to take the full
COMPANY PLUS
advantages of the emergence of market-driven alternative,
such as those based on A2A, or public alternatives, such
as the upcoming digital euro, to reduce their costs. Lastly,
MEMBER
establishing some balance in payments’ fees by imposing
transparency obligations on providers, and capping fees that
are currently unregulated would surely pave the way towards
a payment ecosystem that works to the advantage of both
merchants and consumers. ••

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