• About IPSO
• Companies and Schemes
• National Payments Strategy
• Publications and Reports
• SEPA
• Industry Statistics
• Account Validation & Sort Codes
• Consumer Corner
  • Payment Types
  • Information Security
  • Developments in Irish Payments
    • Single Euro Payments Area (SEPA)
    • Payment Services Directive (PSD)
    • National Payments Implementation Programme
    • Financial Inclusion
  • Frequently Asked Questions
• Business Centre
• Photo Gallery
• Media Centre

You are here: Home -> Consumer Corner -> Developments in Irish Payments -> Payment Services Directive (PSD) A A 

What is the Payment Services Directive?

 

The Payment Services Directive (PSD) provides the legal foundation for the creation of a single market for payments in the European Community and this is an essential element of the SEPA project. The PSD aims to establish a modern and comprehensive set of rules applicable to all payment services in the European Community. The target is to make cross-border payments as easy, efficient and secure as 'national' payments within a Member State. The PSD also seeks to improve competition by opening up payment markets to new regulated entrants.

 

The Directive came into effect in Ireland on 1st November 2009.

 

Read more:

• PSD page on IPSO website
  
• Irish legislation
• EU Directive