Press Release: Commissioner Hill welcomes agreement on the revised Payment Services Directive

On 05 May 2015 the European Commission welcomed a political agreement on the proposal for a revised Directive on Payment Services. The agreement follows so-called trilogue negotiations between the Commission, the European Parliament and the Council of the European Union. The revised Payment Services Directive (known as PSD2) brings a number of new important elements and improvements to the EU payment market.

The agreed proposal aims to improve consumer protection against fraud, possible abuses and payment incidents, such as disputed transactions. The new measures will also ensure that all payment providers active in the EU are subject to supervision and appropriate rules. This should create the right incentives for the emergence of new players and the development of innovative mobile and internet payments in Europe. This means more choice and better conditions for consumers and businesses.

• Primary Source

European Parliament: Newsroom: Press Release, 05.05.15: Updating payment service rules: MEPs do deal with the Council http://www.europarl.europa.eu/news/en/news-room/content/20150505IPR50615/

ESO: Background information: MEPs push for card payment fee caps and online payment safeguards http://www.europeansources.info/record/press-release-meps-push-for-card-payment-fee-caps-and-online-payment-safeguards/

European Council: IP/15/245, 05.05.15: Payment services: Council and Parliament agree new rules http://www.consilium.europa.eu/en/press/press-releases/2015/05/05-payment-services-agreement-on-new-rules/

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