Payment service providers face further regulation from new Cross Border Payments Regulation

payment service providers face further regulation from new cross border payments regulation | Payment service providers face further regulation from new Cross Border Payments Regulation The EU Council has adopted the Cross Border Payments Regulation (CBPR), which comes into force on 15 December 2019, with certain provisions taking effect 12 and 24 months after this date This has implications for firms carrying out cross border payments and could mean you need to review the charges on your cross border transactions
The Regulation aims to address the deemed discrepancy in high charges Payment Service Providers (PSPs) apply to cross border transactions in euro and the Swedish Krona (on account that Sweden has opted into the Regulation) from non-euro area member states, in contrast to the charges applied by PSPs to transaction between two euro area member states. Read more…

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