The European Parliament has agreed to the European Commission revised Directive on Payment Services or the so called Payments Services Directive (PSD2). This new law, proposed by the European Commission in July 2013, enhances consumer protection, promotes innovation and improves the security of payment services. PSD2 is the latest in a series of laws recently [...]
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The European Parliament has set the 6 October as the date to vote on plans for a revised Payment Services Directive (PSD2) during its plenary session. PSD2 is set to replace the existing Payment Services Directive which has been in place since 2007. The new Directive would need to be implemented into national laws across the EU within two [...]
The arrival of the new Payment Services Directive (PSD2) in the internal market repealing the current Payment Services Directive 2007/64/EC (PSD1) has been a closely monitored development since the publication of the European Commission’s (the Commission) Green Paper on Card, Internet and Mobile Payments (COM (2011) 941) in January 2012. On 2 June 2015 the [...]
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According to the PSD2 and XS2A – regulation or opportunity report, Europe’s banks are engaged in a do-or-die effort to prepare for the 2016 introduction of new payments regulations that are expected to usher in a wave of fresh competition and innovation across the sector. The revised Payment Services Directive (PSD2) is being introduced by the European Commission [...]
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