June 15, 2009 10:08 ET

Impact of the PSD on Small Business Payment Services

ROCKVILLE, MD--(Marketwire - June 15, 2009) - has announced the addition of TowerGroup's new report "Impact of the PSD on Small Business Payment Services," to their collection of Banking & Financial Services market reports. For more information, visit

Micro-enterprises and small and medium-sized enterprises (SMEs) represent 99% of all European Union (EU) enterprises, employ 67% of the workforce, and generate almost 20% of revenue from exports.

The Payment Services Directive (PSD) gives EU member states national discretion to apply some of the mandatory consumer provisions to micro-enterprises, a segment comprising about 92% of EU enterprises.

At the discretion of each EU member state, consumer payment provisions extended to micro-enterprises include free monthly reporting, extended notification period for unauthorized payments, and limited liability for unauthorized transactions.

The PSD defines micro-enterprises by number of employees, annual turnover, and/or annual balance sheet totals, which are measures that financial institutions do not capture in their payment processing systems.

Applying unique provisions to micro-enterprise payments further complicates an already daunting task as banks upgrade their processes and systems for PSD compliance.

Topics covered in the report include...
Report Coverage
European Union SMEs: Who They Are and Why They Are Important
Background on the Payments Services Directive
Optional Provisions for Member States Under the PSD
Operational and IT Implications for SME Payment Solutions

For more information visit

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