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Public Consultation on the implementation of the Central Bank of Malta Directive No. 1 on ‘The Provision and the Use of the Payment Services’

Closed CONSULTATION  - consultation concluded

 
From: Ministry for Finance
​(Central Bank of Malta)
​Published on: 12 June 2017
Running till: ​7 July 2017
​Last Updated: ​10 January 2018
Consultation Outcome: Final Report
 

The Central Bank of Malta (the Bank) published the final text of the revised CBM Directive No 1 on the Provision and Use of Payment Services which implements the provisions of Titles III and IV of the revised Payment Services Directive: Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC. The revised Payment Services Directive (PSD2) aims to strengthen consumer protection, fosters greater competition and regulates new market players.

The Bank has also published a Post Consultation Report which includes the position adopted by the Bank in response to comments received by market participants during the public consultation on the implementation of the revised CBM Directive No 1 which closed on 7 July 2017. 

The revised CBM Directive No 1 on the Provision and Use of Payment Services will apply from 13 January 2018 and will repeal CBM Directive No 1 (Ref: CBM 01/2009). 

Leaflet issued by the Malta Bankers' Association

 
Original Consultation 
 
1.        Background
 
The CBM Directive No. 1 modelled on the Revised Payment Service Directive (hereinafter referred to as “the PSD2”) will change the payments value chain, with the aim to improve the payments industry and reinforce consumer protection. The Public Consultation aims at making stakeholders, including the general public, aware of the main changes and newly introduced services, including but not limited to Account Information Services (AIS) and Payment Information Services (PIS).
 
2.        Documents
 
 
3.        Outcome Report
 
 
 
 
 
Data Protection Statement Data Protection Act (Chapter 440)
 
The Data Protection Act, 2001 regulates the processing of personal data whether held electronically or in manual form. The Ministry for Social Dialogue, Consumer Affairs and Civil Liberties collects only information which is necessary for it to perform its intended functions and is set to fully comply with the Data Protection Principles as set out in the Act.  Verification of the ID number provided will take place as deemed necessary. All personal data provided will be processed according to the Data Protection Act (Cap 440).
 
 
In addition, please be aware of:
 
·         Disclosure under the Freedom of Information Act (Chapter 496)
As we are a public authority all documents we hold, including documents related to this public consultation process, may be released following a request to us under the Freedom of Information Act (Chap. 496), unless such request may be subject of an exemption arising from the same Act.

​​www.konsultazzjoni.gov.mt

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