The relevant application forms and guidance note on the Payment Services Directive (PSD) are now available on the Financial Regulator's website. The PSD must be transposed into Irish law by 1 November 2009 and the European Communities (Payment Services) Regulations are set to come into effect from that date. The main aim of the PSD is to provide a common regulatory framework for the single payments market in the EU. A new category of regulated firm, the Payment Institution, is provided for in the PSD and the Financial Regulator is the body responsible for the authorisation of Payment Institutions