BRUSSELS, March 15 The European Commission will
propose by the end of the year new rules to cut retail
transaction fees for payments in European Union currencies,
according to a document seen by Reuters.
Transaction charges in the 19-country euro zone are already
subject to rules enforcing equal prices for payments within one
country and those in other euro zone states. But fees for other
EU currencies, such as the British pound or Polish zloty, are
The EU executive intends to bring down charges in non-euro
countries by proposing an extension of rules on payments already
applied to euro zone states, a document expected to be formally
adopted by the Commission next week showed.
The draft version of the "Consumer finance action plan" said
the Commission will also consider by the first half of next year
measures to increase the transparency of conversion rates for
consumers using payment cards or withdrawing money in foreign EU
countries, in a bid to bring down costs for shoppers.
(Reporting by Francesco Guarascio; Editing by Alastair