ECOFIN Council adopts Payment Services Directive

Abstract

The Payment Services Directive harmonises EU legislation on payments and eg creates a new category of payment services provider, ie the paymentinstitution. Due to its wide scope, the Directive will affect nearly all forms of payment and thus also consumers, companies, and providers of payment services. The ECOFIN Council adopted the Directive at the end of March, and the European Parliament will vote on it in April.