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Enhanced Protection for Consumers in Payment Transactions Across the EU

Enhanced regulations aim to bolster consumer protection against fraudulent transactions in payment processes. Proposed modifications also target Automated Teller Machines (ATMs).However, these contoured measures are not universally welcomed within the industry.

, and Administrator

2025 June 19 . 2:10 PM

1 min read

Enhanced Consumer Protection Measures Implemented in EU Payment Transactions

Enhanced Protection for Consumers in Payment Transactions Across the EU

Getting sick of those pesky payment scams, huh? The European Union's stepwise plan aims to put a stop to that. They're working on new rules to boost transparency, not only in ATM fees and payment card systems but also in the way payment service providers (PSPs) handle fraud-related matters.

United We StandHeiner Herkenhoff, CEO of the Association of German Banks (BdB), emphasizes that this fight against fraud requires collaboration. "We can't win this battle if banks, telecom providers, and internet platforms don't pull their weight," he says. The German Banking Industry Committee (DK) shares this sentiment, warning against a legislation proposal that could unfairly pin consumers' losses on banks alone.

All Eyes on the CashEU states are also focusing on increasing transparency at ATMs. All fees and exchange rates will be displayed before any transaction takes place, so users can say goodbye to hidden costs.

New Rules, Fresh ChoicesThe proposed changes bring transparency to payment card systems as well. This clears up the fee picture for consumers and businesses, helping them make informed choices.

The ultimate goal? A comprehensive anti-fraud framework to counter the tricky new forms of payment scams, like the notorious “spoofing” technique. This tactic involves fraudsters pretending to be payment service providers, sneakily encouraging users to perform transactions.

So, brace yourselves, because change is coming, and it's about time!

The German Banking Industry Committee concurs with Heiner Herkenhoff, emphasizing that the fight against payment fraud requires collaboration, not just from banks, but also telecom providers and internet platforms.
In line with the European Union's stepped-up plan, the focus is not only on new rules for payment card systems and fraud-related matters but also on increasing transparency at ATMs, eliminating hidden costs.
As part of the proposed changes, businesses and consumers will have fresh choices in payment card systems, as the new rules bring transparency to the fee picture, enabling informed decisions and helping create a more robust anti-fraud framework.