EBF: European Banks welcome Council vote on PSD

27 March 2007

The EBF welcomed the adoption by the Council of the Directive on Payment Services calling it a “suitable compromise”. The compromise reached strikes a good balance between the various points of view and will in particular allow for a proper implementation which will make payments technically workable, the EBF says.

However, the EBF made clear that the long delay in the decision will mean that the direct debit part of SEPA cannot be implemented before the end of 2009, whilst the banks were aiming at introducing SEPA direct debits by 1 January 2008.

Press release

© EBF