Translation of "Electronic Payment Authorization Card " (English → French) :

Cards and other electronic payments can be used in a more versatile manner, including possibilities to pay online in order to take advantage of the internal market and e-commerce, whilst electronic payments also provide retailers with potentially secure payments.

Debit cards, credit cards and all manner of mobile and electronic payment schemes are coming to dominate trade, but EU regulations on payments have struggled to keep up with the rapid pace of change".

13. Notes that the European market for cards, internet and mobile payments is fragmented both across and within national borders; takes the view that standardisation should not be limited to the definition of security standards but should include measures necessary to ensure a more open, transparent, innovative, competitive and unfragmented electronic payments market that brings advantages to all consumers (for example with regard to interoperability or, in m-payments, po ...[+++]rtability); considers that, to reach this target, the tool of co-badging for payments cards, to be provided by the bank to the cardholder upon request, should be taken into consideration (in that case the choice of PSPs available on the card and of priority between them should be up to the consumer) and that the remaining obstacles to crossborder acquiring should be eliminated;

12. Stresses the importance of clear rules on consumer protection policies at European level; believes that further standardisation at European level is needed, in the form of a regulatory framework establishing security standards and transparency of costs for each form of electronic payment (also extending to non-banking service providers) and regulating all the actors involved in the provision of payment services as well as all intermediaries, including merchants (e.g. storage of credentials); believes that when defining standards it is necessary to take account of those systems which have br ...[+++]ought about significant shifts towards safer payments (e.g. the CHIPPIN system for cards; two-factor authentication systems; e-signatures and online payments passing through e-payment services), of those systems which are more vulnerable to fraud (e.g. where consumers’ sensitive personal data are transmitted to third parties, as in online payments through overlay services, or the magnetic strip system for cards), and of innovations that could make the processes safer;

In parallel with improved security for electronic payments, we need to explore ways to make the reporting of lost and stolen cards more efficient.

Electronic payments: Commission seeks views on single European telephone number to report lost and stolen cards