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EU will give tech industry a role in payment services

Friday 16 October 2015 | 11:45 CET | Author: Bart Garvelink | Background
European Parliament has adopted Payment Service Directive 2, bringing change to payment services in the EU. The European Commission wants to make online payments more convenient, cheap and safe, while promoting cross-border commerce. The conventional role of the banks is limited in favour of new service providers. Those new players will emerge from the financial services sector, but also from the online realm. It is by no means certain that Facebook, Amazon or Google will launch a bank, but PSD2 gives companies more tools, even the option to issue debit cards.

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Categories: Internet
Companies: Amazon / Apple / European Commission / Facebook / Google / MasterCard / Visa
Countries: Europe
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