Translation of "Opération électronique " (French → English) :

39. Points out that documented, electronic, non-cash transactions make participating in the black economy more difficult, and that a strong correlation appears to exist between the proportion of electronic payments in a country and its black economy; encourages the Member States to lower their thresholds for compulsory non-cash payments;

Consumers without a bank account are forced to use cash which not only restricts their choice of payment methods and serves to exclude them from electronic transactions, but is also more expensive.

(d)the time and date of the electronic transaction must be determined precisely.

As well as the crisis, many other changes to the market place have also occurred since the introduction of MiFID, such as the advent of new technology and the now widespread use of electronic algorithmic trading, including HFT.

It is necessary to specify the categories of payment service providers which may legitimately provide payment services throughout the Community, namely, credit institutions which take deposits from users that can be used to fund payment transactions and which should continue to be subject to the prudential requirements under Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions , electronic money institutions which issue electronic money that can be used to fund payment transactions and which should continue to be subject to the prud ...[+++]ential requirements under Directive 2000/46/EC of the European Parliament and of the Council of 18 September 2000 on the taking-up, pursuit and prudential supervision of the business of electronic money institutions , and post office giro institutions which are so entitled under national law.

Mr President, the directive includes – and this is important – all information society services, both business to business and business to user services, such as those which allow electronic operations to take place – interactive telesales of goods and services, on-line ‘shops’, for example; services which are offered free, such as those financed through advertising or sponsorship, the on-line press, on-line databases, on-line financial services, on-line professional services – lawyers, doctors or other professionals – leisure services such as video on demand, direct marketing and all services accessed via the Internet.