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Engage pro-actively with EU and international bodies to ensure interventions do not inhibit the ability of the UK market to compete globally

The card payments industry is a global one designed around principles of interoperability that allow UK consumers to transact internationally in any currency, while providing unparalleled consumer protection, irrespective of where they are in the world.

It is essential that UK regulators balance domestic responsibilities with an international perspective and effective leadership outside our national borders. A divergent approach to payment regulation in the UK could impact card companies’ ability to provide global services or introduce innovations, ultimately disadvantaging UK consumers.

The UK Cards Association is calling for UK regulators to proactively engage and influence EU and international institutions to ensure a high quality international regulatory framework that is consistent and to the benefit of UK businesses and consumers. Regulators can also play a key role in helping firms, especially smaller firms, to make sense of regulation.

For more a more detailed briefing on this proposal please call 020 3217 8200 or email us at contactus@ukcards.org.uk.

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