Payment Services Law Blog | GÖRG Blog

PSD2 - Third party payment service providers: What effect does PSD2 have on services such as Sofort, IDeal and Trustly?

On 24th of July 2013 the European Commission published a proposal for a new Directive on payment services in the internal market (PSD2), repealing the previous payment services Directive from 13th of November 2007 (2007/64/EC – PSD1). The draft creates, among numerous other proposals, a new category of institutions requiring authorisation. The provision predominantly targets services such as German Sofort Überweisung, Dutch iDeal or Swedish Trustly.

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