The European Commission has introduced a new rule which affects cross-border payments between EU countries. From now on, all cross-border transactions made in Euros which take place in non-Eurozone Member States will be priced at the same value as domestic payments in these countries. EU States which don’t use the Euro as their currency will be included in this rule, such as the Czech Republic, Poland, Denmark and Hungary.
J&P Comments
This is a key step in the European Commission’s project to transform the EU into a single market, and this progression will ensure that cross-border payments will be cheaper for consumers and businesses. This is also evident from the fact EC Executive Vice-President Valdis Dombrovskis has said “This is a positive and concrete example of how the Single Market can bring real benefits to European consumers.”
