IBAN Debate Escalates After EC Exclusion From Payment Directive
BRUSSELS-The lack of a standard account number identifier required for the Payment Services Directive (PSD), which becomes law in Europe by November 2009, could slow down harmonization of the European payments landscape, officials say.
The European Commission (EC) is not including the International Bank Account Number (IBAN) as a standard requirement for identifying account numbers in the PSD. "While the IBAN was included as one of several options for identifying customers as part of the original
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