Home Means of payment Overview Revision of the payment services directive and card payment  


23 may 2014

Revision of the payment services directive and card payment


  • The draft regulation on interchange fees published by the European Commission in July 2013 provides for the regulation of fees with, as a result, a decline in their volume, in France. However, payment cards are an industry that needs to be based on a viable economic model in order to enable the necessary investments for the develoment of tis systems, notably in terms of security and innovation.

  • It seems essential for any decision regarding an enshrinement of the level of card interchange fees to be base on a reliable impact study, in order to assess the different payment methods in terms of cost for retailers and consumers, but also in terms of security, guarantee and traceability.

  • The European Commission has also published a proposed Payment Services Directive revising the European legislative framework for payments. While taking into consideration the technological changes that have appeared since the adoption of PSD1 in 2007, the proposal aims to increase its effectivness, clarify certain aspects and ensure fair competition between players.

  • For the banking profession, the major issue of this text relates to the legal supervision of the new activities appearing in the market. It is important that conditions for accessing account information by third party providers are strictly controlled, in order to maintain customers' level of confidence in their banking payment methods and secure access to banking information.

  • Once the new directive is adopted, the provisions applicable to payment services will be fixed for several years.

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