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Payments & FinTech Lawyer

Norway prepares for the implementation of PSD2

Through its membership of the European Economic Area (‘EEA’), Norway, whilst not an EU Member State, is set to be heavily affected by the revised Payment Services Directive (‘PSD2’), as EEA rules mean Norway must implement EU financial services rules into its own national legislation. This could well mean increased competition in the Norwegian payment services market. Tore Mydske and Randi Jørum Sulland of Advokatfirmaet Thommessen AS provide an overview of the current landscape for mobile payments in Norway, a market that has already begun to prepare for what PSD2 could bring, and discuss what PSD2 could mean for Norway’s payments sector more generally.

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