PRICING AND FLOAT
Payment pricing should be based on a domestic model: the payer pays his own bank’s fees; beneficiary pays his bank’s fees. That’s called “shared” or SHA: there is no place for deductions, extra agent’s fees or pass-backs.
Card schemes should have transparent and low interchange fees, with primacy to debit card schemes over credit card.
All payments in the EU should be completed, at the latest, on the next business day from January 2012. The beneficiary bank has to credit the customer on the same day and with the same value as they received the payment, so no float for that bank.
Pricing should harmonise - but that could mean large increases where the service is basically free now.
Market volatility is a certainty.
