Commission encourages swift and coherent implementation of PSD

12 December 2007

The Commission is to assist Member States in their implementation of the Payment Services Directive, which has now to be written into national law by 1 November 2009 at the latest. In particular, the Commission will set up best-practice workshops and an interactive question-and-answer website.

 

To assist Member States during the implementation phase, a 'transposition group' will be set up with the task of comparing approaches and choices made by Member States in order to highlight any discrepancies at an early stage, and to provide thorough and consistent understanding of the PSD provisions. The group, chaired by the Commission, will consist of Member State representatives in charge of drafting the national implementation rules. Furthermore, the Commission will hold regular meetings with the payments industry and other relevant stakeholders in order to identify potential issues during the implementation process.

Press release

PSD Q+A Transposition website

© Graham Bishop