Payment services: PSD II (Directive)

With the proposal for a Directive on a 2nd Payment Services Directive, the Commission wants to promote the European payments market and encourage transparency, security and innovation in relation to payments.


The inclusion of third-party payment service providers clarifies their responsibilities and liability. A bank should only have to grant access to third-party payment service providers where the bank has an unassailable market position on the consumer market. The rules on "limited networks" and "digital payment transactions" create incentives for regulatory arbitrage and distort competition. The fact that Member States can no longer prohibit charges for the use of payment instruments facilitates cross-border trade.