23 November 2017
New Belgian law for payment services
As of begin 2018 a new Belgian law for payment services will enter into force. This law is based on the European Payment Services Directive 2 (PSD2), which aims to make your payments easier, safer & more efficient and to foster creativity & innovation in the payments world.
The following months will be exciting, the evolution of the payments allowing new opportunities you will take advantage of.
We will then make all necessary effort in order for you to take full advantage of all the benefits the Regulation has to offer.
Following are few examples:
- Consumer rights are enhanced: reduced liability for unauthorized payments from €150 to €50
- More transparency of costs for the International payments will be proposed via a cost simulator in your online channels, etc.
In a near future the directive will also aim to open the payments world in the European market creating more dynamism between the different service providers; these will be regulated and will undertake activities based on initiation of payments and account aggregation.
What does this mean concretely?
We will be able to offer you for example, a complete view of the accounts you hold in different banks on a same screen! This will allow you not only to have an overview of your banking transactions but also to manage and to take the best decisions on your finances.