Payment systems & IT
Payment Services Directive (PSD)
FAQ on the Law of 11 November 2009 on Payment Services
Introduction
The Luxembourg law transposing the payment services directive (PSD) entered into force on 1 November 2009 and provides the legal and operational framework for the creation of a single market for payments within the European Economic Area (the EEA is the EU, together with Iceland, Liechtenstein and Norway).
XBRL
What is XBRL ?
XBRL, which stands for eXtensible Business Reporting Language, is a language used to electronically communicate business and financial data. It allows companies to prepare, analyse and communicate financial information with improved efficiency, reliability and accuracy at reduced costs. The XBRL standard is open source and free of licence fees.
