08 Dec Amendment to the Payment Services Implementation Act (ZDUG) in preparation
On December 19, 2016, the Federal Ministry of Finance sent the federal states and associations a draft bill for the implementation of the supervisory provisions of the Second Payment Services Directive (Payment Services Implementation Act – ZDUG) for consultation. The draft law serves to implement the EU’s Second Payment Services Directive into national law. The deadline for implementation is January 13, 2018. The Second Payment Services Directive replaces the First Payment Services Directive (Directive 2007/64 / EC) with the aim of promoting innovations in payment transactions, improving the security of payments and strengthening the rights of the customers of payment service providers. The following are essential: a) Access to payment accounts (only!) for regulated payment service providers, b) New contouring of the exceptions, e.g. for telecommunications companies, c) Improving the security of payments (strong customer authentication). There is currently still a fierce technical debate about the latter, as it would also cripple large parts of current payment habits. In preparation for the planned changes to the ZDUG, the NRW Ministry of Consumer Protection has created a position paper on “Consumer Protection 4.0” with the aim of even better safeguarding consumer rights in the digital environment. Among other things, there are plans for a 24-hour fixed price (!) For online offers as well as even stricter rules for scoring and customer evaluation procedures prior to delivery. Various interest forums for the market participants involved are currently being held against the resulting restrictions on the freedom of contract for dealers.