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EU rules foster competition and innovation in e-money services.

What the EU is doing and why

Electronic money (e-money) is a digital alternative to cash. It allows users to make cashless payments with money stored on a card or a phone, or over the internet.

EU rules on e-money aim to

  • facilitate the emergence of new, innovative and secure e-money services
  • provide new companies with access to the e-money market
  • encourage effective competition between all market participants

Policy making timeline

  1. 28 June 2023
    Legislative proposal - Payments services and electronic money services

    Financial data access and payments package including

    • a proposal for a new Payment Services and Electronic Money Services Directive (PSD3)
    • a proposal for a new Payment Services Regulation (PSR)
  2. 30 October 2009

    The E-Money Directive came into force.

Relevant legislation