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
- 28 June 2023Legislative proposal - Payments services and electronic money services
- a proposal for a new Payment Services and Electronic Money Services Directive (PSD3)
- a proposal for a new Payment Services Regulation (PSR)
- 30 October 2009Legislation
The E-Money Directive came into force.
- Text of the E-money Directive (2009/110/EC)
- Summary of the legislation: Electronic money: business and prudential supervision
Transposition by EU countries
- The E-money Directive was transposed by all EU Member states into their national law.
- Transposition of the E-money Directive by EU countries
- Questions and answers on the E-money Directive published by the Commission
- Ongoing revision of the E-money Directive
- Legislative initiative on the review of EU rules on payment services