Proposed Directive on Payment Services in the Internal Market

A formal proposal for a Payment Services Directive (formerly known as the New Legal Framework) was presented by the European Commission in December 2005. This proosal follows an extensive consultative period and reflects significant amendments to earlier versions. However, as the proposal could have a fundamental impact on the UK payments industry, APACS will monitor European developments closely and provide information and assistance to legislators at each stage of the forthcoming process.