Study on the impact of Directive 2007/64/EC on payment services in the Internal Market and on the application of regulation (EC) No. 924/2009 on cross-border payments in the community

Practice Area: Finance
Client: EC DG Internal Market and Services
Published: July, 2013
Tagged: EC/EEA ex-post evaluation quantitative analysis stakeholder surveys and consultations

The study, undertaken with iff and PaySys, examines the effects of Directive 2007/64/EC on payment services in the internal market (PSD) and Regulation (EC) No 924/2009 on fees and charges for cross-border payments (Regulation 924) and identifies a number of potential amendments to current version of the PSD.  The report is based on four different sources of information. It examines the PSD, together with its official implementation reports, alongside national legislation and legal opinions on its intended legal, economic and social effects. It uses information on payment services markets and payment services from official statistics as far as they are available at national and EU level and payment service providers and information from a data collection exercise on payment fees and charges faced by payment service users. The other main source of information was a number of surveys of key stakeholders (payment service providers, competent authorities, users, consumer associations, complaint authorities, businesses and legal experts).