The European Commission is to create a Payment Systems Market Expert Group (PSMEG), which will be composed of experts competent in the area of payments, a press release said on Thursday.
The group aims to gain inputs on payment issues, including fraud prevention, from a range of stakeholders, in particular the payment industry and users.
The European Commission, the executive body of the European Union (EU), has called on interested candidates to send an application to the Commission by Feb. 6. A maximum of 50 experts will be selected.
The PSMEG's tasks are to assist the Commission in the preparation of legislative acts or policy initiatives regarding payment systems, including fraud prevention issues related to payment industry and users, to provide insight concerning the practical implementation of that policy, and to exchange views on up-to-date best practices and ensure monitoring of potential issues of concern for the market.
The group will meet in Brussels and will be chaired by the Internal Market and Services DG of the European Commission.
"It is important to have sound, efficient and secure payment systems in order to ensure a proper functioning of the internal market," said EU Internal Market and Services Commissioner Charlie McCreevy.
"With the development of our policies in the area of payments, in particular in the context of the Single Euro Payments Area (SEPA), we have a growing need for regular and high-level stakeholder input at the earliest stage of our policy-making. New and complex areas of activity, such as the prevention of payment fraud or the development of innovative payments, will also mean new needs for specialist expertise," he added.
Source:Xinhua
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