New rules on electronic payments

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New rules come into force on 13th January that are aimed to protect consumers. This applies to transactions in shops and online. In brief they will:

  •  Prohibit surcharging, which are additional charges for payments with consumer credit or debit cards, both in shops or online;
  • Open the EU payment market to companies offering payment services, based on them gaining access to information about the payment account;
  • Introduce strict security requirements for electronic payments and for the protection of consumers’ financial data;
  • Enhance consumers’ rights in numerous areas. These include reducing the liability for non-authorised payments and introducing an unconditional (“no questions asked”) refund right for direct debits in euro.

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