Proposed in 2013 (see EUROPE 10895) and adopted in 2015, the revised directive on payment services (PSD2) will enter into force this Saturday 13 January and, with it, new rules to make payments cheaper, simpler and safer in the EU. But what will actually change for consumers on Saturday?
No more over-billing for card payments. One of the central measures of this directive is unquestionably the prohibition throughout the EU of the practice of ‘over-billing’ when card payments are made,...