| Author (Person) | Rocha, Frederico |
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| Publisher | Cardiff EDC |
| Series Details | January 2018 |
| Publication Date | 12/01/2018 |
| Content Type | News |
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Media reports as the revised Directive on Payment Services (PSD2) entered into force on 13 January 2018. Background information: The PSD2 was proposed in July 2013 by the European Commission and agreed by co-legislators in 2015. It incorporates and repeals Directive 2007/64/EC (Payment Services Directive, or PSD1), which provided the legal basis for the creation of an EU-wide single market for payment services. A key aim of PSD2 is to increase the level of security and confidence of electronic payment. It also establishes a framework for new services linked to consumer payment accounts, such as the so-called payment initiation services and account information services. The rules specify the requirements for common and secure standards of communication between banks and FinTech companies. |
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| Subject Categories | Business and Industry, Internal Markets |
| Countries / Regions | Europe |
