Brussels, 08/10/2015 (Agence Europe) - On Thursday 8 October, the European Parliament rubber-stamped the revision of the 'payment services' directive, to allow new actors to use online bank data to make payments on behalf of clients.
“The new directive will reduce costs while opening up the market to new operators which will be subject to the same regulatory and supervisory framework as other credit or payment institutions. The new rules will further improve consumer protection in cases of alleged fraud”, Antonio Tajani (EPP, Italy), rapporteur of the EP, stated in a press release. According to the Commissioner for Financial Services, Jonathan Hill, “the new payment services directive will ensure that electronic payments in Europe become more secure and more convenient for European shoppers”. He welcomes this step towards a true “digital single market”, which will help the economy to grow.
With the future rules applicable two years after their definitive adoption, consumers using an online bank account will be able to use software (or a mobile application such as Linxo) operated by a third-party company and carrying out payments on their behalf (see EUROPE 11309). In order to lift the obstacles to newcomers to the market, banks will be able to deny these servers access to a customer's account only for objectively justified and proven security reasons notified to the supervisory authorities. However, third-party payment providers must guarantee secure authentication of users and reduce the risk of fraud.
The directive also steps up protection for consumers using payment services. Eva Joly (Greens/EFA, France) said that “ending the payment card surcharges, which are regularly applied for online purchases, will prevent consumers being penalised for using their cards online”. She also referred to the “right to refund” for deferred debit transactions and the reduction of consumers' liability for unauthorised payments. This liability will be reduced from €150 to €50, other than in the event of proven fraud or gross negligence. Lastly, the rules on the protection of personal bank data have also been tightened up. However, Joly regretted the exemptions to the directive called for by the member states, which she feels will limit the application of the new rules “in the telecommunications sector”. (Original version in French by Mathieu Bion)