Payment Transactions Under the EU Payment Services Directive: A U.S. Comparative Perspective
Penn State International Law Review, Vol. 27, 2009
Comparative Perspective" (2009) p. 713 - 756
46 Pages Posted: 8 May 2018
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Payment Transactions Under the EU Payment Services Directive: A U.S. Comparative Perspective
Payment Transactions Under the EU Payment Services Directive: A U.S. Comparative Perspective
Date Written: May 1, 2009
Abstract
Implementing a Proposal of the Commission of the European Communities ("the Commission"), the Directive on payment services in the internal market, often colloquially referred to as "the payment services Directive" ("Directive"), provides for "a harmonised legal framework" designed to create "a Single Payment Market where improved economies of scale and competition would help to reduce cost of the payment system." Focusing on electronic payments, the Proposal purported to "only harmonise what is necessary to overcome legal barriers to a Single Market, avoiding regulating issues which would go beyond this matter."
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