The Head of Payment Systems and Services at HM Treasury, Edward Corcoran, is reported to be considering a six-week consultation to transpose the revised Payment Services Directive (PSD2) into national law, with domestic legislation targeted for January 2017.

What this means for you

The deadline for the transposition and implementation of PSD2 into national law is 12 January 2018.  Timely implementation and effective stakeholder engagement will be welcomed.  No formal consultation has yet been announced but it is clear that officials are keen to begin consulting with stakeholders regarding plans for the transposition of the directive.