Orrick Alert: The New Electronic Payment Services Landscape: Developments in EU Legislation

On July 24, the European Commission issued legislative proposals to update and complement the current EU legal framework on payment services to develop further an EU-wide single market by promoting more competition, security and innovation in the field of electronic payments.  The Commission noted that this move may be worth billions in savings for the European economy in the coming years, which will result in new business opportunities for a fast growing market.  To read the entire Orrick Alert, please click here.