March 3, 2009
Your LinksDossier on the PSD (‘Payment Services Directive: The end of cash era‘) states:
“The Payment Services Directive does not cover Internet payments. Online purchases are regulated by the eMoney Directive adopted in 2000. The Commission is currently waiting for the PSD to enter into force before coming out with new proposals to amend the eMoney Directive and integrate it into the PSD.”
This information is wrong and misleading! The subject of the eMoney-Directive is e-money and not all kinds of Internet payments, which can be made by credit cards, debit cards, direct debit, credit transfer etc. PSD Titles III and IV are relevant for all kinds of cashless payments at physical or virtual point-of-sale, e-money included.
Dr. Hugo Godschalk
GermanyAuthor : Andreas