New rules on cheaper and safer payments for consumers

EU consumers will benefit from cheaper, safer and more innovative electronic payments under the new Payment Services Directive (PSD2), which applies throughout the EU from tomorrow. The legislation will mean that surcharges will be prohibited for most consumer debit and credit card payments. This could save more than €550 million per year for EU consumers. Consumers will also be better protected when they make payments. PSD2 is a step towards a digital single market and will benefit both consumer and businesses.