On 17 September 2018, the Dutch Minister of Finance (the Minister) sent the legislative proposal for the Decree implementing the revised Payment Services Directive (PSD2) (Implementatiebesluit herziene richtlijn betaaldiensten, the Implementation Decree) to the Dutch Parliament (Tweede Kamer).
Amongst other things, the Implementation Decree strengthens the requirements on:
- authorization as payment institution in the Netherlands;
- internal governance arrangements in relation to security; and
- transparency towards customers.
Together with the Act implementing PSD2 (Implementatiewet herziene richtlijn betaaldiensten), the Implementation Decree implements PSD2 in the Netherlands. The Minister announced that the Implementation Act and the Implementation Decree are expected to come into effect by the end of 2018.
View the Implementation Decree (Dutch only), 17 September 2018.