Industry Welcomes EBA Ruling On Recurring Payments

Industry experts have welcomed the recent announcement by EU authorities that recurring card payments will not be subject to onerous security requirements, drawing a line under an issue which threatened to have a significant impact on the sector.

Months of speculation came to an end last week when the Directorate General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA) declared its opinion that recurring card payments are indeed initiated by the payee.

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