COMMISSION STAFF WORKING DOCUMENT Implementation Plan Accompanying the document Proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on payment services in the internal market and amending Directives 2002/65/EC, 2006/48/EC and 2009/110/EC and repealing Directive 2007/64/EC
Date: 2013-07-24
Institutions: European Commission
Subjects: consumer information, data protection, electronic commerce, electronic money, financial services, intra-EU payment, payment, provision of services, single market, technical standard













EUR-Lex - 52013SC0282 - EN











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52013SC0282

COMMISSION STAFF WORKING DOCUMENT Implementation Plan Accompanying the document Proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on payment services in the internal market and amending Directives 2002/65/EC, 2006/48/EC and 2009/110/EC and repealing Directive 2007/64/EC /* SWD/2013/0282 final */









COMMISSION STAFF WORKING DOCUMENT
Implementation Plan
Accompanying the document
Proposal for a
DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL
on payment services in the
internal market and amending Directives 2002/65/EC, 2006/48/EC and 2009/110/EC
and repealing Directive 2007/64/EC
1.           Contact point: 
Silvia Kersemakers
Telephone: +32 229-57368
Email: Silvia.Kersemakers@ec.europa.eu
2.           Deliverables and
implementation challenges
Actions which are needed to implement the legislative act and
identify the main implementation challenges: 
–                        
Technical challenges: 
·              
Broadening of the scope of the regulatory
framework for electronic payments (through the suppression or redefinition of
exemptions, the extended coverage of transactions and new actors)
·              
Set up of a web portal interconnecting public
registers of authorised and registered payment institutions by EBA
·              
Definition of stricter passporting guidelines by
EBA
·              
Issuance of guidelines on security measures to
be drafted by the European Banking Authority (EBA)
·              
Strong customer authentication measures (for
PSPs)
·              
Set up of the European Retail Payments Board
(ERPB)
–                        
Compliance challenges: 
·              
Cost that need careful planning: 
·              
EBA involvement in the application of the PSD 2
(2 FTEs on years 1 and 2, 1 FTE on years 3 and following)
·              
ERPB's funding: secretariat from both the EC and
BCE.
–                        
Timing challenges: EBA work to be delivered by
the time of transposition of the Directive.
3.           Support Actions:
Possible Commission Actions:
Assuming adoption of the proposal by end
2014
·              
Update “Payments” web-page of the Internal
market policy website from end 2014 to provide the basis for Member States',
businesses' and other users' queries and have an interactive implementation
dialogue.
·              
Organise transposition workshops with Member
States in 2015 to discuss and solve all transposition issues, comparing
approaches and choices made by Member States in order to highlight any
imperfections at an early stage and to ensure a better and consistent
understanding of the PSD 2 provisions. When required, questionnaires will be
provided to Member States or made available to them through our web page well
in advance in order to prepare for these meetings.
·              
Starting early 2015, hold bilateral meetings on
request with Member States in order to support Member States legislative
efforts, to closely monitor the implementation process and to spread best
practice among Member States. 
·              
Starting early 2015, organise meetings with the
payment industry and other relevant stakeholders which could help to spot flaws
or distortions of the implementation process.
·              
Inform payment services users of the updated
legal framework and communicate on their rights regarding payment services.
Drafting and publishing leaflets explaining the rights citizens and SMEs enjoy
under the PSD 2 or revamping the 'Payments' section of the Internal Market
policy website including the Q&A section are options.
·              
Pursue continuous informal dialogue with other
Commission services (DG MARKT, DG ENTR, DG COMP, DG CNECT, DG SANCO, DG ECFIN,
etc.) on issues such as PSD 2 provisions with influence on competition,
consumer policy, standardisation, fight against money laundering and terrorism
financing, data protection, etc.
·              
The Commission will adopt EBA's regulatory
technical standards in accordance with the procedure laid down in Articles
10-14 of Regulation (EU) No 1093/2010
·              
The Commission, together with the European
Central Bank shall co-chair the ERPB.
·              
The Commission, together with the European
Central Bank shall provide for the secretariat which shall support the ERPB
Possible Member State Actions:
·              
Member States will be required to identify and
update the appropriate liaison contacts to take part in further technical
discussions.
·              
Member States will be provided with a template
for a "concordance table" to be used by Member States to illustrate
the correlation between the provisions of the PSD 2 and the transposition
measures adopted to implement them into domestic law.
Other actions:
EBA will be required to:
·              
set up a web portal interconnecting public
registers of registered and authorised payment institutions;
·              
issue guidelines (establishment, implementation,
monitoring) on security, the use of state-of-the-art authentication methods as
well as on handling of major security incidents by PSPs;
·              
issue guidelines and regulatory technical
standards regarding the exercise of the right of establishment and freedom to
provide services (“passporting guidelines”).
 Implementation challenge || Support action || Timing & owner 
 Implement the PSD 2 in a clear and consistent way || Update “payments” web-page to provide the basis for Member States', businesses' and other users' queries and have an interactive implementation dialogue || end 2014 -> 2015 Commission 
 Organise transposition workshops with Member States to highlight imperfections and / or ensure a better and consistent understanding of the PSD 2 || Early 2015 Commission 
 On request, hold bilateral meetings with Member States in order to support Member States legislative efforts, to closely monitor the implementation process and to spread best practice among Member States. || Early 2015 Commission 
 Cooperation with Member States || Member States will be required to identify and update the appropriate liaison contacts to take part in further technical discussions. || End 2014 Member States 
 Illustrate the correlation between the provisions of the PSD 2 and the transposition measures adopted || Provide with a template for a "concordance table" to be used by Member States || Early 2015 Commission 
 European Banking Authority on boarding || Issue guidelines and regulatory technical standards regarding the exercise of the right of establishment and freedom to provide services || At the latest, by transposition date of PSD2 EBA 
 Adopt the regulatory technical standards defined by the EBA || At the latest, by transposition date of PSD2 Commission 
 European Retail Payment Board on boarding || Nominate the members of the Board || End September 2013 Commission + ECB 
 Provide for the secretariat which shall support the Board || End September 2013 Commission + ECB 
 Businesses' involvement in implementation process || Organise meetings with the payment industry and other relevant stakeholders which could help to spot flaws or distortions of the implementation process. || Early 2015 Commission 
 Inform payment services users of the updated legal framework || Drafting and publishing leaflets explaining the rights citizens and SMEs enjoy under the PSD 2 or revamping the 'Payments' section of the Internal Market policy website including the Q&A section are options. || Early 2014 Commission 
 Create synergies within the Commission || Pursue informal dialogue with other Commission services (DG ENTR, DG COMP, DG SANCO, etc.) on issues such as PSD provisions with influence on competition, consumer policy, standardisation, fight against money laundering and terrorism financing, data protection, etc. || Continuous DG MARKT