Results for tag: "Payment Services Directive"

The Payment Services Directive (PSD) is a European Union (EU) directive that regulates payment services and payment service providers throughout the EU and European Economic Area (EEA). It was introduced in 2009 and is designed to create a single market for payments, making cross-border payments easier, safer and more efficient. The PSD applies to all payment services, including credit transfers, direct debits, card payments, e-money and money remittance services. It also applies to payment service providers, such as banks, e-money institutions, payment institutions and other financial institutions. The PSD has had a major impact on the banking industry, providing a framework for the development of new payment services and products. It has also helped to reduce the cost of cross-border payments, making them more accessible to consumers and businesses. Companies in the PSD market include banks, payment institutions, e-money institutions, and other financial institutions. Examples include Barclays, HSBC, Santander, PayPal, Revolut, TransferWise, and WorldRemit. Show Less Read more