An article relating to this blog post on Finextra:
UK Government moves to enact EU Payment Services Directive
The UK Government has laid before Parliament regulations to implement the EU Payment Services Directive (PSD) into UK legislation.
See article
The UK Government is putting before Parliament regulations that will lead to legislation due to be enforced on the 2nd March 2009. This should breathe life into the PSD after a particularly difficult and hazardous pregnancy as banks and other vested interests
having been battling away to try and ensure their businesses are protected. The PSD we have today is a far cry from that first muted and it will remain to be seen if it achieves its original objectives. However, let's at least give it a modest fanfare as it
begins its final route that finishes when the regulatory authority is established on 1st November 2009.
So from the 1st November everything should be in place for enabling radical change in the European payments industry, which the politicians promised will bring increased competition, lower costs and brand new innovative services. However, I have a feeling
all will not be as promised and although the payment donkey has been led to the water it will be sometime before it drinks.