Today finance ministers in the Economic and Financial Affairs Council (ECOFIN), unanimously adopted a general approach on a compromise text for the Payment Services Directive (PSD). The aim of the PSD is to make cross-border payments within the EU – by credit card, debit card, electronic bank transfer, direct debit or any other means – as easy, cheap and secure as domestic payments within one Member State, and to provide the necessary legal foundation to make the Single Euro Payments Area (SEPA) possible.
