Technical Terms

In the "Knowledge" section, we have compiled a glossary for you on the topics of risk and receivables management, e-commerce, payment and payment protection.

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    PSD - EC Payment Services Directive

PSD - EC Payment Services Directive

The EC Payment Services Directive (PSD) is the legal basis for a standardized (European) payment processing region. The SEPA Direct Debit Process, which went into effect in 2014, could only be widely used based on the EC Payment Services Directive. The PSD applies in all European member states and third party states, such as Switzerland. This act has its mandate in the German Payment Services Regulatory Act [Zahlungsdiensteaufsichtsgesetz (ZAG)] and in the German Civil Code [Bürgerliches Gesetzbuch - BGB], Sections 675a to 676c.

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