The new EU directive on payment services – PSD2 – Lexology

In response to the continued progress of technological innovations, and aimed at creating a safe and harmonised market of electronic payments within the EU, the European Parliament and the Council has adopted a new directive 2015/2366 on payment services in the internal market (PSD2 or the Revised Payment Services Directive). It is hoped that this will increase consumer protection and awareness, enhance competition in the market, as well as facilitate the introduction of innovation in the financial services sector.

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