Industry Fears over Lack of Payments Data Harmonization Post PSD

LONDON - Market participants have raised concerns that the Payment Services Directive (PSD), which is due to become law in November 2009, lacks sufficient clarity to harmonize the European payment landscape, officials tell Inside Reference Data.

The PSD, which includes several data-related paragraphs, aims to create a single payments market in Europe, but lack of harmonization, different country legislations and lack of awareness around it, have led to confusion.

"For a piece of legislation that a