EUROPE: European Central Bank Supports new European Directive for Electronic Payments

Tuesday February 11 2014

The European Central Bank (ECB) has published its legal opinion on a new directive regulating the development of the European Market for electronic payments, taking into account developments in e-commerce and the introduction of new solutions. The opinion was issued at the request of the Council of the European Union and the European Parliament.

The ECB strongly supports the objectives and the content of the proposed directive, in particular, the proposal to broaden the list of services to include payment initiation services and account information services. In the ECB’s view, this measure will support innovation and competition in retail payments.

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