Publication detailsChirita, Anca D. (2012). Cross-Border Service Payments under EU Fair Competition and SEPA Rules. European Competition Journal 8(2): 403-428.
- Publication type: Journal papers: academic
- ISSN/ISBN: 1744-1056, 1757-8396
- DOI: 10.5235/ECJ.8.2.403
- Keywords: SEPA, Fair competition, Cross-border service payments, Article 102 TFEU
- View online: Online version
- Durham research online: DRO record
Author(s) from Durham
EU rules on the functioning of a Single European Payment Area (SEPA) Union-wide with free movement of cross-border services have an impact upon fair competition in the internal market for both consumers and smaller businesses. Under Article 102 (a) TFEU, the cost analysis of pricing must be supplemented by translating unfair trading terms and conditions from the field of legal analysis of contracts into that of economics. Terms and conditions which create a more onerous obligation form an integral part of an economic contract concluded by undertakings, irrespective of their market shares, based on a cogent interpretation of their significant negotiating power over EU consumers. Several practices misleading consumers clarify the above understanding using the tools of behavioural economics. The banking sector needs stronger competition intervention in the service market of general economic interest to consumers.