On December 23, 2015, the Directive (EU) 2015/2366 on payment services in the Internal Market (PSD2) was published in the Official Journal. The directive aims to create a uniform legal framework within the EU market covering aspects such as new services and players, advancements in technology and other innovations.
The 28 EU countries must replace the existing Payment Services Directive 2007/64/EC, which has been in place since 2007, and implement PSD2 into national legislation by January 13, 2018.
The revised directive was published just two weeks after the Regulation on interchange fees for card-based payment transactions (the Interchange Fee Regulation) came into force.
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