Uber Banks On Finance Players As It Gears Up For Regulatory Ride

Taxi hailing app Uber has found itself an unlikely ally in Europe’s banking fraternity in criticising how new payment laws can be interpreted by national authorities.

Brian Crist, Uber’s chief payments counsel, said that he felt the revised Payment Services Directive (PSD2) gave member states too much leeway to distort how platforms could take payments in each of their jurisdictions.

He said the lack of harmonisation “muddied the waters”, a view backed by the European Banking Federation (EBF), which said the 28 national variants of the directive would weaken governance.

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