Greece: Public Consultation on Draft Law for the Transposition of PSD2

On November 2, 2017, the Ministry of Finance launched a public consultation on a draft law aiming to harmonise the Greek legislation with the revised Payment Services Directive (PSD2).

The draft law comprises 109 articles in total and, when it enters into force, it will repeal and replace the current legislative regime established by Law No. 3862/2010. In general, the provisions of the draft law remain in alignment with the provisions of PSD2.

Seeking to ensure increased competition in the payments market, the key changes brought about by the new provisions are:

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