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ARTICLE · 03 OCTOBER 2018

Key Regulatory Developments In Belgium - September 28, 2018

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Developments in Belgian Payment Services Regulation

European UnionFinance and Banking
Source/Date Brief description

Directive (EU) 2015/ 2366

Payment Services (PSD II)

Developments in Belgian Payment Services Regulation

The Law of 19 July 2018, that entered into force on 9 August 2018, implements certain provisions relating to the PSD II in several books of the Belgian Economic Law Code. The prudential supervisory provisions, which regulate the public law aspects of the PSD II as there are the licensing requirements, were already implemented earlier this year by Law of 11 March 2018.

From now onwards payment transactions carried out in the EEA in a non-EEA currency and transactions whereby only one payment service provider is located in the EEA shall fall within the scope of the PSD II, except with a few exceptions.

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