PSD2: Industry Heralds New Dawn For EU Payments

Europe’s payments landscape has irrevocably changed, industry experts believe, as legislation designed to increase competition and the scope of the sector’s regulation was passed emphatically yesterday. 

Cheers and clapping echoed around the Strasbourg chamber as the revised Payment Services Directive (PSD2) sailed through its final vote in the European Parliament.

The original PSD was approved in 2007, but was quickly criticised for being outdated as internet, mobile and card payments made huge technological leaps.

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