Brief Considerations On The New European Regulation In Terms Of Payment Services

Given that each Member State of the European Union had its own regulation in the matter of payments, the European Commission considered it necessary to adopt an uniform legislation in this regard. Consequently was adopted Directive 2007/64/EC of the European Parliament and of the Council which regulated payment services in the EU and the EEA (European Economic Area). In virtue of the obligation to transpose into the national law the provisions of this Directive, with effect from November 1, 2009 Romania adopted the Emergency Ordinance no. 113/2009 which regulated its own legislation on the provisions of Directive 2007/64/EC. Given the experience gained so far, considering the technological opportunities in the matter of payments and the change in habits of payment of the EU citizens and not only, in conjunction with the development of electronic commerce and increasing facilities offered by the payment service providers in the field of payments via mobile terminals, it has been concluded that provisions of Directive 2007/64/EC are largely overcome by the technological evolution. Wishing to maintain the regulations in the matter of payment services at the current technological level to guarantee the security of payment operations at the same time with the adaptation of the market of EU payments to the opportunities offered by the single market and simultaneously with supporting the EU economy growth, the European Commission has adopted a package of measures which include both a new directive relating to services of payment as well as a proposal for a regulation on inter-bank fees for card payments. The purpose of the regulation is the transparency of bank information on payment services; creating a single legal framework at the EU and EEA level in the matter of payment services and the protection of payment service consumers. The new regulation applies not only to payment transactions in the EU or EEA but also to payments made or received to/from outside through a payment service provider acting within the EU or EEA. The objective of the study was a comparative analysis of current legislation of Directive 2007/64/EC, transposed into national law by Ordinance No. 113/2009 with subsequent amendments, with the provisions of the draft directive adopted by the 24.07.2013, who, on the date of entry into force will repeal Directive 2007/64/EC. The research method used was a study comparing the current regulations and terms of the draft directive, using the rules for the interpretation of specific international trade law science and those common to all branches of law.