Vim Vithaldas, group commercial and finance director, urged delegates at the consortium’s 2017 overseas conference in Monaco to put their support behind the action, warning that the repercussions of the impending Payment Services Directive 2 (PSD2) “cannot be right for our members or the end consumer”.
As part of PSD2 – which comes into force in January – businesses will no longer be able to charge clients to cover the costs of the banks’ credit card fees through surcharges, despite no legal change to merchant services fees.
