EU agrees rules to spur innovation in cross-border payments

May 5, 2015 4:29 PM

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LONDON May 5 (Reuters) - The European Union agreed new rules on Tuesday to encourage greater choice in the way customers in the bloc can pay for goods and services across borders and to help strengthen its single market.

The EU has agreed on a revision to its payments rules to crack down on fraud and to create a supervisory framework that will include cards, Internet and mobile payments which are often fragmented along national lines, EU presidency Latvia said.

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