What is it?
The Payment Services Directive is the legal framework for creating a single payments market for cash, cards and electronic products across all EU member states. It follows several other key milestones in Europe including: the implementation of EU Regulation 2560/2001, which made charges for low-value electronic cross-border payments the same as domestic payments; and the creation of SEPA, the Single Euro Payments Area, by the European Payments Council (EPC) in 2002.
