Press Release: New legislation on payment services to deliver benefits for consumers and businesses

Following a period of consultation which began in the Summer of 2008, the UK Government, on 9 February 2009, laid before Parliament regulations to implement the EU Payment Services Directive (PSD) into UK legislation. These regulations are due to enter into force on 2 March 2009, and the PSD regulatory regime will be in place on 1 November 2009.