Kristīne Gaigule-Šāvēja: On the New Payment Accounts Directive

05.04.2017

Under the payment service provider competition circumstances, it is essential for the customer servicing to “hold” the client’s electronic wallet, namely, the account where the revenues of private individuals, usually the salary, are transferred. Credit institutions may thereafter supplement that account with, e.g., different credit card, leasing, payment, credit, savings and other financial management services. The more diverse services the consumer uses from one payment service provider, the more difficult it will be in practice to change such payment service provider in future. However, that situation will change soon. Each consumer will be entitled to transfer the payment services to another payment service provider, including the payment institution.

 

The full version of the article in Latvian is available here:

 

2 of 20