Cross-border payments in the European Union

The European single market for payments is based on the idea of providing safer and more innovative payment services across the EU. To this end, the European institutions are working on establishing rules and tools to make payment services easier and to foster competition. The aim is to guarantee common standards in all Member States, efficient, faster and diversified types of payment, and consumer protection. The EU has already put several legislative tools in place, has established common criteria and requirements, and provided alternatives (such as e-money) to 'traditional' payment channels. 'Payment services' mean those defined by the EU legislation in the field, and cover common tools and standards for cross-border payments (SEPA), and also e-money services.

This Implementation Appraisal deals with cross-border payments and, more specifically, with Regulation (EC) No 924/2009 in the context of the planned European Commission review. Eight years after its entry into force, the Commission has announced its intention to extend its scope to non-euro currencies

ESO: Background information: Report from the Commission ... on the application of Directive 2007/64/EC on payment services in the internal market and on Regulation (EC) No 924/2009 on cross-border payments in the Community (COM (2013)549) http://www.europeansources.info/record/report-from-the-commission-to-the-european-parliament-and-the-council-on-the-application-of-directive-2007-64-ec-on-payment-services-in-the-internal-market-and-on-regulation-ec-no-924-2009-on-cross/

European Commission: Inception impact assessment: Review Regulation (EC) N°924/2009 on cross-border payments in order to extend its scope to all non-Euro currencies in the Union (Ares(2017)3372443, July 2017) https://ec.europa.eu/info/law/better-regulation/initiative/33546/attachment/090166e5b384cae5

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