EBF comments on Parliaments PSD vote

24 April 2007

The EBF welcomed the adoption of the PSD noting that some fine-tuning may be necessary at the time of implementation. The EBF generally feels that the Directive 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 foreseen implementation of the PSD in November 2009 means that SEPA direct debits can be launched following the successful implementation of the PSD across SEPA countries, although they will be delayed as compared to the original deadline set for January 2008. However, the other two aspects of SEPA, the Pan-European card framework and the pan-European credit transfer, will be operational as planned as of January 2008, thus offering greater benefits to consumers in a single currency area.

Press release

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