Clifford Chance
Updating the Payment Services Directive – PSD2
4 November 2013
In July this year, the European Commission (the “Commission”) published its Proposal for a Directive of the European Parliament and of the Council on payment services in the internal market and amending Directives 2002/65/EC, 2013/36/EU and 2009/110/EC and repealing Directive 2007/64/EC (“PSD2”). PSD2 is the Commission’s attempt to update the Payment Services Directive (2007/64/EC) (“PSD”) to reflect new developments in the payments market.
