The Payment Services Directive (PSD) is a new piece of EU legislation, which provides the legal framework for the Single Euro Payments Area (SEPA), an industry initiative which will enable the creation of a single pan-European market for payment services. The aim of the PSD is to
harmonise laws across Europe on the provision of payment services, including cards. We have made some important changes to our Terms and Conditions for Card Acceptance to reflect the PSD and will be notifying merchants of these changes in due course. The updated Terms and Conditions will be effective from 1 November 2009. In the meantime, for more information on the PSD and what it means for your business, please see the FAQ’s attached below.