Position paper on Payment Services Directive 2

During 2013 the European Commission issued a proposal for new Payment Services Directive ("PSD2"), and a regulation on interchange fees for card-based payment transactions.

The proposals increase consumer rights when sending transfers and money remittances outside Europe or paying in non-EU currencies and will promote the emergence of new players and the development of innovative mobile and internet payments in Europe. It introduces a new form of regulated participant - the “third party payment service provider”.

The EACT has received feedback for the ACT and other National Treasury Associations and has been passing this to the European Commission staff. The concerns from treasurers that will need addressing are summarised in an EACT Position paper on PSD 2

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