An afternoon seminar on Tuesday is to put the European Payment Services Directive and the Single Euro Payments Area project under the spotlight.

The event, organised by the Malta Chamber of Commerce, Enterprise and Industry in conjunction with the Malta Bankers Association and the Central Bank of Malta, is aimed at people working in all business sectors, auditors and accountants, and government officials involved in payment systems.

The European Payment Services Directive, currently being enacted in all European Union and European Economic Area member states, is bringing an overhaul to the payments industry by opening it up to payment institutions.

The rights and obligations of the payment services provider (the banking or payment institution) and the customer be it a corporate, SME or individual are changing and will improve.

The Payment Services Directive in conjunction with the revised EC Regulation 2560/ 2001 are the legal basis for the Single Euro Payments Area (SEPA) project.

The PSD is an important piece of legislation that is going to assist in the repositioning of both cash and cheques which are costing Maltese business high processing and administration costs.

The PSD is creating a legal certainty across the EU to promoted electronic means of payments and act as a catalyst to promote the amount of cross border payments. Through the PSD and SEPA project businesses are benefiting from lower transaction costs for straight-through-processing done through internet banking.

For more information on the seminar, one may contact the Chamber on 2123 3873.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.