news

PSD2 adopted as hammer piece

The bill of the PSD2 was adopted by the House of Representatives on 11 September 2018. The bill was passed by the Senate on 4 December 2018 as hammer piece done.

It's about the legislative dossier 34,813 Implementation Act for revised Payment Services Directive (PSD2): The proposal implements the European Directive no. 2015/2366 of 25 November 2015 on payment services in the internal market (PSD II) in Dutch legislation. To this end, the Financial Supervision Act (Wet op het financieel toezicht), the Financial Supervision (Funding) Act (Wet bekostiging financieel toezicht), the Civil Code (Burgerlijk Wetboek), the Consumer Protection (Enforcement) Act (Wet handhaving consumentenbescherming) and the Data Protection (Implementation) Act (Uitvoeringswet Algemene verordening gegevensbescherming) will be amended.

PSD II replaces PSD I and has three objectives. Firstly, it Strengthening a single European market for card payments, Internet payments and mobile payments. Second, stimulating and Facilitating innovations, including by regulating various payment services created after the publication of PSD I, such as payment initiation services and account information services. Finally, PSD II aims to identified problems of PSD I, such as the use of outdated or vague notions.