The Malta Chamber of SMEs welcomes MCESD Chairperson David Xuereb to its offices
01 February 2024
Malta Chamber of SMEs President Mr Paul Abela and Deputy President Mr Philip Fenech welcomed...
In order to
adapt EU payments market to the opportunities of the single market and to support
the growth of the EU economy, the European Commission recently proposed new
rules that will bring more competition to the electronic payments market,
providing consumers with more and better choices between different types of
payment services and service providers.
example, during the past years new actors have emerged in the area of internet
payments offering consumers the possibility to pay instantly for their internet
bookings or online shopping without the need for a credit card (around 60% of
the EU population does not possess a credit card), establishing a payment link
between the payer and the online merchant via the payer's online banking
innovative and often less costly payment solutions are already offered in a
number of Member States (e.g. Sofort in Germany, IDeal in the Netherlands,
Trustly in Scandinavia). However, these new providers are not yet regulated at
the EU level.
the new rules will contribute to the reduction of charges paid by consumers for
card payments. The card charges imposed on merchants will be capped and
merchants will no longer be allowed to surcharge consumers for using their
will also be better protected against fraud and other abuses and payment
incidents through improved security measures.
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).