A guide to the Payment Service Directive (PSD2)

The European Commission has reviewed and modernized its PSD to a new legislative framework on payment services, the advancement PSD2 is set to come into effect January 2018 and implemented in all EU member states.

The Payment Services Directive (PSD2) is a fundamental piece of the payments-related legislation in Europe, in force since January 2016. The future directive is a the legacy of the original Payment Service Directive (PSD) and aims to enhance security, competition, efficiency, whilst providing the consumer with more choice in a secure environment to European (EU) level practices and contributors currently unregulated in the EU, and encouraging lower prices for payments.