About: Payment Services Directive Archives

  • MEPs back EU ‘trust mark’ for websites

    News | Brexit 22-09-2010

    The European Parliament has backed the idea of a new 'trust mark' to give consumers peace of mind when shopping online, urging Brussels to come up with proposals on the issue.

  • Bankers: Hurdles remain for mobile payments launch

    Interview | Euro & Finance 29-01-2010

    The architects of the Single Euro Payments Area (SEPA), designed to harmonise euro-denominated money transfers, hope the system will allow customers to make payments using mobile phones. Dag-Inge Flatraaker, from the bank-driven European Payments Council, told EURACTIV that banks have come a long way but must now work to iron out security issues.

  • Mobile payments face an uncertain future

    News | Euro & Finance 29-01-2010

    Even though France will be unveiling the EU's first payments via mobile SIM cards this year, so-called m-payments face an uncertain future as phone operators worry about their bottom lines and consumers wonder who will be tracking their payments.

  • EU direct debit rules open to fraud, says consumer group

    News | Euro & Finance 26-01-2010

    The potential benefits of the Single Euro Payments Area (SEPA) are in danger of being outweighed by the risks as consumer groups' warnings fall on deaf ears, according to a letter sent by European consumers' organisation BEUC to MEPs and diplomats yesterday (25 January).

  • Payment Services Directive: The end of the cash era?

    Policy Brief | Euro & Finance 25-01-2010

    Europe has been on the cusp of a payments revolution since 2007, when it established a single rulebook setting the same payment standards and obligations across the 31-member EU/EEA. But the Payments Services Directive and a voluntary payments scheme, the Single Euro Payments Area, were welcomed only guardedly by the industry and member states and banks have been slow to implement both initiatives.

  • Europe’s winding road towards a payment revolution

    News | Euro & Finance 25-01-2010

    Payments in 31 European countries are about to get faster, cheaper and easier once the EU's ambitious Payments Services Directive is fully translated into national law. However, member states have begun to opt out of some parts of the rulebook, making a level playing field harder to attain.

  • Banks not buying in to Single Payments Area

    News | Euro & Finance 29-10-2009

    While the EU admits its plan to create a Single Euro Payment Area (SEPA) across Europe will take longer than expected, consumer and banking groups argue that the scheme needs to be revised before it is rolled out any further.

  • Visa told to reduce transaction fees

    News | Euro & Finance 07-04-2009

    The European Commission sent a formal statement to Visa on Friday (3 April), announcing its intention to bring an antitrust case against the credit card firm for over-charging its fees.

  • The pitfalls of the Payment Services Directive

    Opinion | Brexit 25-03-2009

    The EU's Payment Services Directive (PSD) is in danger of "creating a legislative labyrinth," warns Professor Maria Chiara Malaguti in a recent paper for the European Credit Research Institute (ECRI).

  • Industry predicts ‘contactless payment’ surge in 2009

    News | Euro & Finance 22-01-2009

    So-called 'contactless payments' made via mobile phones or swipe cards could boom across Europe over the next two years thanks to new EU rules and a series of bold initiatives from card companies, mobile phone operators and big retail groups.

  • EU rules might hamper card payments

    News | Competition 01-12-2008

    Despite the EU's official determination to reduce "inefficient cash payments" across Europe, EU rules allow extra charges to be applied to card payments, indirectly supporting the use of cash.

  • EU pushes for rival to Visa and MasterCard

    News | Competition 19-09-2008

    Despite the insistence of the two 'incumbents' that increased competition in payment services would be a costly waste of time, the EU institutions are pushing for the creation of a European payment scheme to complement those provided by Visa and MasterCard.

  • Banks foresee higher costs for SEPA than PSD

    News | Euro & Finance 24-07-2008

    European banks expect to spend between €10 and €100 million each to apply the new provisions of the Payment Services Directive, the EU legislative initiative designed to increase competition in the payment sector and facilitate a gradual migration to a non-cash economy, according to a new survey.

  • New deal brings EU mobile phone payments closer

    News | Euro & Finance 02-07-2008

    Using a mobile phone to make direct payments could become the norm in Europe following cooperation announced between the GSM Association (GSMA), which brings together the world's major mobile operators, and the European Payment Council (EPC), the body representing the EU banking sector.

  • MasterCard temporarily annuls cross-border fees

    News | Euro & Finance 13-06-2008

    MasterCard is provisionally repealing the cross-border interchange fees it charges on all transactions made in Europe with credit or debit cards in a bid to comply with a Commission deadline of 21 June. But it will continue to look for a fee scheme that complies with EU rules.

  • Call for joint effort to combat online child pornography

    News | Digital 07-05-2008

    The fight against child abuse over the Internet is often hampered by data protection rules, but a joint effort between privacy authorities, financial institutions and Internet services providers can ensure significant results in line with national laws, according to a new report.

  • SEPA: Easier credit transfers but uncertain cost cuts

    News | Euro & Finance 29-01-2008

    Since 28 January 2008, every credit transfer carried out in euros is processed in the same way across Europe, with identical procedures and the same timeframe, but at a cost that will remain different from bank to bank "for a certain time".

  • Cartes Bancaires flagged for anticompetitive behaviour

    News | Euro & Finance 18-10-2007

    Practices by the French payment card group Cartes Bancaires  (CB) are in breach of EU anti-trust rules, and have resulted in a restriction of competition and artificially high prices, according to the European Commission. CB has announced that it will appeal the decision.

  • Traditional payment systems still dominate e-commerce

    Opinion | Brexit 13-07-2007

    While the internet is seen by many suppliers and consumers as a virtual trading platform, payment systems are the 'Achilles heel' of e-commerce for the consumer, argues Stefan Heng from the Deutshe Bank Research.

  • Commission to harden stance on credit-card industry

    News | Euro & Finance 31-01-2007

    On 31 January 2007, the Commission is to present a critical report on the European payment-card market, which may trigger individual anti-trust investigations.

  • Interview with Jean-Paul Gauzès (MEP)

    Interview | Euro & Finance 18-09-2006

    According to Gauzès, MEP and rapporteur on payment services in the internal market, the new propositions add to the directive’s efficiency and take into account the technical constraints of the industry, while maintaining the objective of a cost reduction for consumers.

  • Commission wants lower prices for credit cards

    News | Brexit 13-04-2006

    According to a preliminary report into the payment card industry published on 12 April 2006 by DG Competition, the sector is in breach of EU antitrust rules.