Regulation of Payment Services Market: Comparative Study, September 2017

The study examines the regulation of payment services especially the Payment Services Directive (PSD2), which is implemented in the European Union. The study examines the implementation of the directive in leading countries, such as Britain, Italy, France, Germany and Luxembourg.

The study examines the normative stratum that adopts the directive at the state level. Furthermore, the study addresses the question of whether the implementation of the Directive includes a distinction between traditional services provided by banks and included in current account services (ASSPPs), and between (2) payment initiation service providers (PISPs) By third parties. The research included reference to services such as licensing/ registration requirements, strict security requirements, Fintech security requirements, payment and withdrawal – cash, checks and bills.

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