Position Paper: Payment Services Directive (PSD)

DPA publishes new Position Paper on the Proposed Review of the Payment Services Directive (PSD).

The purpose of this study by the Cross Border Transactions Subgroup of the Digital Single Market Group was to conduct an analysis of the Commission's proposed review of the PSD, to assess the likely impact on a range of stakeholders, and to inform key decision-makers and officials in the European and UK parliaments of the findings.  The Paper contains a Summary with key conclusions expressing concerns about the fragmentation of approaches to proposed regulations, including the omission of e-signatures and authentication from the PSD, and a discussion of 8 proposed overarching principles against which it is suggested that the PSD should be measured.

The publication of a Commission report for the review of the PSD was projected for November 2012, but because of the close connections with related and parallel proposals, the report is now likely to be presented in April 2013.