Directive 2007/64/EC

Directive 2007/64/EC, known as the Payment Services Directive (PSD), aims to create a unified legal framework for payment services across the European Union. It promotes competition, innovation, and security in electronic payments, ensuring that consumers can make payments safely and easily. The directive requires transparency in fees and services, provides consumer rights, and establishes regulations for payment service providers, such as banks and electronic payment companies. This helps protect consumers and supports a more integrated and efficient payment market within the EU.