European Parliament approves PSD

The European Parliament has approved at first reading the text of the proposed Payment Services Directive (PSD) without amendments. As the text is based on a compromise agreed between the Parliament's rapporteur and the ECOFIN Council, it is likely the Directive will now be adopted by the Council without significant amendment. The Directive aims to make cross-border non-cash payments within Europe simpler and cheaper in two ways: by supporting industry efforts towards a Single European

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