European Central Bank Proposes Credit Card Payment Framework for all of EU

http://www.insidearm.com/news/00026760-european-central-bank-proposes-credit-car/

In a bid for better oversight, the European Central Bank said it’s proposing a new cross-border framework to oversee all payment card systems using the Euro in the 13-nation currency zone.

The move stems from concerns over card payment fraud, and ECB hopes to "promote a level playing field across the Euro area", by developing an oversight framework for schemes that process Euro payments.

The bank will consult on the proposal until August 2.