Establishments must have an alternative payment system to cash in transactions of more than 30 euros

The new method must be announced in some visible place on the business owner's premises or facilities.

The Government has approved the draft bill on payment services which, among other things, obliges every businessman or professional to offer clients an alternative payment system to cash when the amount of transactions exceeds 30 euros.

This is a transposition of the European Directive, known as PSD2, on Payment Services, which creates an integrated framework for this type of services in the EU and which will also regulate third-party access to a client's banking information. necessary to make a payment, although with your consent.

This standard aims to address the new challenges and changes posed in card operations via the internet or mobile phones, and to reinforce security in electronic payments.

This alternative payment instrument must be announced in some visible place on the premises, establishment or facilities of the businessman or professional.

To this end, a new operator regime has been created for payment services, which will introduce the figure of the payment initiator and the information provider.

In a purchase made by a customer in an electronic commerce in which the payment is not made by card, but via transfer, the payment initiator would be in charge of making the transfer with the customer's data, to which he would have access after collecting Your consent.

The maximum that a client must assume for fraudulent use, loss or theft of the card and another payment instrument is reduced from 150 to 50 euros

In addition, the rule reduces from 150 to 50 euros the maximum losses that a client must assume in the event that an unauthorized payment transaction occurs as a result of fraudulent use, loss or theft of the card or other payment instrument, and The response time for resolution by entities of claims from payment service users is reduced to 15 days, compared to the two months previously established.

Furthermore, with the aim of improving security, the regulations include the requirement for stronger customer authentication when accessing their accounts online. The Draft Payment Services Law has been approved in the first round, since it must obtain the corresponding opinions and return again to the Council of Ministers to be approved as a Bill and begin its parliamentary processing.

In a first assessment of the rule, the Association of Users of Banks, Savings Banks and Insurance, Adicae, has criticized that no limitations are established nor are the commissions charged in these payment services regulated. In the specific case of credit cards, Spain is at the top of the most expensive commissions in Europe, and in some cases with "abysmal" differences of up to 78 % more than the average of the richest countries in Europe , where in some cases they do not charge any commission," Adicae has denounced.