Payment Services Directive (PSD)

The Challenge

After the formal adoption by the Council and the European Parliament and the publication on April 24, 2007, the Directive 2007/64/EC on Payment Services (PSD) will have to be transposed into national law of the Member States before November 1, 2009.

The objective of this Directive is to simplify cross-border payments and to seek to improve competition by opening up payment markets to new entrants, while ensuring the ultimate consumer a sufficient level of guarantee to gain its confidence and to carry its adhesion.

The requirements of the PSD will lead to in-depth changes in the rules, the practices of management, as well as the infrastructure of the payment systems of all the banks in Luxembourg. Impacts of the PSD will be concentrated around two main themes:

  • Information and communication towards clients
  • Process and procedures of payment services

PwC Solutions

Our solutions have been designed to be flexible and pragmatic in order to rapidly deliver added value to our clients.

  • Raising awareness and building knowledge within your organisation:
    • Internal PSD trainings (meetings and workshops with your teams)
    • External PSD trainings organised with the cooperation of PwC Academy
  • Assessing the readiness of your organisation: the "PSD Healthcheck":
    • Gap analysis between PSD requirements and your organisation
    • Review strategic opportunities brought by PSD launch
    • Structured workshops built around the two main PSD themes

What’s in it for you

Based on our rich experience of successfully delivering tailor-made solutions to industry wide challenges, we have set up a multidisciplinary team of professionals in regulatory compliance, business processes and system matters to design a comprehensive but pragmatic approach to accelerate your readiness to meet PSD’s challenges.

Why PricewaterhouseCoopers?

PricewaterhouseCoopers considers the PSD a business challenge and not merely a compliance issue. The implications of the Directive are far reaching and necessitate a comprehensive and organised approach involving most business areas and supported by regulatory, business and change management expertise. As a local and global leader in professional services to the financial services industry, PricewaterhouseCoopers has the wealth of resources and expertise to assist you in addressing the various challenges posed by the PSD.