SPA's position on the New European Directive on Payments – the PSD2

SPA considers that the new Payment Service Directive (PSD 2) draft represents a significant restructuring of financial regulation applicable to retail payments. Its chief goals are to increase competition in the retail payments market, and to give European citizens the confidence of a reinforced legal system that works for, and protects, them. It is hoped that this confidence will contribute to the wide adoption of innovative payment instruments - an objective for SPA members expressed in its position on the Green Paper ‘Towards an integrated European market for card, internet and mobile payments’ in 2012.

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