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The Payment Services Directive (PSD) stands out as a hugely ambitious and strategically
important regulatory intervention in the financial services arena. It is the legal
lifeblood which is expected to sustain the Single Euro Payments Area (SEPA) and the
broader integration of the EU payments market.
This book provides an insider's view of the forces which have shaped SEPA and the
PSD, written from the unique perspective of someone closely involved throughout the whole
process. It uncovers the strategic, legal and practical implications of the full
harmonisation agenda and provides an assessment of where these initiatives stand today.
Furthermore, it explores parallel developments in other areas around the world that have
been inspired by the European experiment.
Essential reading for all those involved in, or studying, the evolution of the European
and global payment markets – and more generally for anyone interested in a topical and
lively case study of EU integration and law-making in action.
RUTH WANDHÖFER is well known in the payments industry for her
in-depth knowledge of the regulatory, market and competitive landscape in Europe and in
particular as one of the foremost authorities on SEPA and the PSD. She is responsible for
Market Policy and Strategy within the EMEA Global Transaction Services business of Citi
and holds a number of senior external positions in the industry.
Contents
List of Tables
List of Figures
Foreword by Gertrude Tumpel-Gugerell
About the Author
Acknowledgements
Glossary
Title I – The Opening Act: The beginning of the end … or just the end of the
beginning?
Title II – EU Financial Regulation Explained: The Powers and the Pitfalls
Title III – SEPA: A reaction to EU Regulatory Activism: A New Hope
Title IV – PSD – a Parallel Universe to SEPA: The Odyssey from the First
Beginnings to the Final Text
Title V – From Publication to Transposition - The Directive Dilemma: The Road to
Nowhere
Title VI – SEPA: From Design to Launch: Finding Your Way through the SEPA Jungle
Title VII – Postlude: The Future for European Payments in a Global Context
Conclusions
Useful Websites
Notes
Index
312 pages, Hardcover
