Regulations – payment services

As of January 2018, new rules apply for payment services in the EEA as a consequence of the PSD2 directive.
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What will this mean?

Within the European Economic Area (EEA) common rules exist for payment services. These are based on the EU’s Payment Service Directive (PSD), which was introduced in 2009 to create an efficient market for payment services within Europe. 

In 2018, the regulations are being tightened through the new directive, PSD2. Digital payment services providers will also be subject to the directive, and the aim is that it should be simpler and more secure for private individuals and companies to make and receive payments. The objective is to help increase transparency throughout the European payments market, which should result in more competition. This will give banks the opportunity to develop and collaborate with other players, for example by customers being able to make payments via a third party provider.

When will the new directive come into force?

In Sweden, PSD2 will come into force on 1 May 2018. The directive will be implemented in other countries when each country’s legislation has been passed.

More information