New payment services regime: preparing for a revised landscape

Jon Chertkow, Julie Patient and Virginia Montgomery of Hogan Lovells explore how payment service providers should prepare for the implementation of the new directive on payment services.

The Payment Services Directive (2007/64/EC) (2007 Directive) started a massive programme of regulatory change for payments, which affected nearly all aspects of banking and payment service provision. It created a single market for payment services across the EEA, increased transparency, imposed uniform rules for execution times and eliminated non-transparent charges…

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This article first appeared in the August 2016 issue of the PLC Magazine and is reproduced with the kind permission of the publishers. Subscription enquiries 020 7202 1200 or via http://uk.practicallaw.com/resources/uk-publications/plc-magazine

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