EAPB warns against over-regulation by Payments Directive

01 December 2005

Responding on the adopted proposal for a Directive on Payment Services the EAPB warns against over-regulation of the payment sector. The association disagrees with the proposed mandatory execution time of only one banking business day following the point in time of acceptance for payment transactions. “Such a short execution time is not realistic and does not take all existing cross border infrastructures into account” Mr Schoppmann, Secretary General, said.

The EAPB also rejects any rules which do not eliminate obstacles to the common market for payments but introduce additional obligations and requirements for the banking industry and therefore undermine their efforts in developing a Single Euro Payments Area (SEPA) with pan-European standards and infrastructure.

Press release

© EAPB