Press Release: Malta Chamber of SMEs endorses the investment announced on a new industrial zone in Ħal Far
25 January 2022
The project will have a space of 14,000 metres squared and 30 new units will...
EuroCommerce, the original
complainant in the MasterCard case and a party throughout the proceedings,
wholly welcomed the opinion and trusts that it will provide great impetus to
the Council and Parliament to proceed quickly with the proposal for EU
Regulation which should bring great benefits for European commerce and all
The ECJ affirmed all the
findings of the General Court, holding in particular that the interchange fees
could not be regarded as ‘objectively necessary' as ‘the system was still
capable of functioning without these fees.'
GRTU is very pleased with this
decision and augurs that MasterCard will re-assess its fees, not only
cross-border but at national level also. We call on the regulators to move
swiftly to adopt the proposed EU Regulation by the end of this year. Indeed, we
see the ruling as giving support to the European Parliament's extension of the
original Commission proposals. We urge the Council to follow the Parliament's
In particular, GRTU calls on
the Council and Parliament to:
set interchange fee caps at 0.2% for
debit and 0.3% for credit as an absolute maximum, with the option for member
states to set lower or fixed caps;
include a fixed cap of maximum 7
cents for debit transactions;
include commercial cards in the fee
domestic and cross-border fees within 6 months.
The Malta Chamber of SMEs represents over 7,000 members from over 90 different sectors which in their majority are either small or medium sized companies, and such issues like the one we're experiencing right now, it's important to be united. Malta Chamber of SMEs offers a number of different services tailored to its members' individual requirements' and necessities. These range from general services offered to all members to more individual & bespoke services catered for specific requirements.
A membership with Malta Chamber of SMEs will guarantee that you are constantly updated and informed with different opportunities which will directly benefit your business and help you grow. It also entails you to a number of services which in their majority are free of charge and offered exclusively to its members (in their majority all free of charge).