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Payment Services Directive: frequently asked questions (European Commission)

(Source: European Commission) What is the Payment Services Directive? The Payment Services Directive (PSD) was adopted in 2007. This legislation provides the legal foundation for an EU single market for payments, to establish safer and more innovative payment services across the EU. The objective is to make cross-border payments as easy, efficient and secure as 'national' payments within a Member State. Since 2007, this Directive has brought substantial benefits to the European economy, easing access for new market entrants and payment institutions, and so offering more competition and choice to consumers. It offered economies of scale and helped the Single Euro Payments Area (SEPA) in...

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