U.S. Credit Card Issuers Should Consider the Implications of the European Union’s Payment Services Directive 2 (PSD2)

The European Union, now facing the United Kingdom’s upcoming “Brexit,” still faces the monumental task of fully uniting the Single Euro Payment Area (SEPA). The Payment Services Directive (PSD) created a competent legal body to regulate the market. A revision—PSD2—broadens its reach to include payment transactions that either originate or end in the eurozone and deepens its coverage in an effort to increase competition and reduce costs.

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