Cross-border Payments Regulation

Roles that need it

• Regulatory Change Analyst
• Cash Management Product Manager
• Retail Banking Advisor
• Merchant Acquiring Sales Executive

Skills it belongs to

• Payments and cards products (schemes, chargebacks, PSD2, open banking)
• Regulatory change impact assessment

Related concepts

• Dynamic currency conversion (DCC)Dynamic currency conversion lets a cardholder abroad pay in their own currency instead of the merchant's local currency, with the exchange rate set at the till or the online checkout. Under Regulation (EU) 2021/1230, the provider must show the total conversion charge as a mark-up over the latest euro reference rate of the European Central Bank before the payer chooses.
• SEPA Credit Transfer (SCT)SEPA Credit Transfer (SCT) is the European Payments Council scheme for euro credit transfers between accounts in the Single Euro Payments Area, identified by IBAN. Funds must reach the payee's bank by the next business day at the latest, with no scheme maximum amount, and cross-border transfers follow the same rules as domestic ones.
• PSD2 (Second Payment Services Directive)The second Payment Services Directive, Directive (EU) 2015/2366 (PSD2), is the EU law on payment services and their providers, applicable since January 2018. It sets authorisation, transparency, execution time and liability rules, created regulated payment initiation and account information services, and required strong customer authentication. PSD3 and the PSR will replace it.

Sources

• Regulation (EU) 2021/1230 on cross-border payments in the Union, EUR-Lex (external site) accessed 31 Oct 2026

Updated 31 Oct 2026.