For over a year, we have been waiting for this important new European Directive, and many are the novelties that the EU regulatory framework on Electronic Money Institutions and electronic money was preparing.

Now we have it: on October 10th 2009 the EU Official Journal L 267 / 7 published the new Directive 2009/110/EC on “the taking up, pursuit and prudential supervision of the business of electronic money institutions”.
The directive, signed in Strasbourg on September 16th 2009 by the Presidents of the European Parliament and Council, repeals the previous directive 2000/46/EC and introduces new rules (while enabling new opportunities) for Electronic Money Institutions.

ENTRY INTO FORCE AND TRANSPOSITION
The new directive has come into force on the twentieth day following its publication on the Official Journal (then October 30th 2009, just 48 hours before the entry into force of the Payment Services Directive!). The Member States have time to incorporate and implement the Directive in their national schemes till April 30th 2011 (please pay attention that only on this date the directive 2000/46/EC should be repealed).

The first phase of this partnership is to provide electronic payment processing throughout the European Union and Switzerland, while the second phase is for PayStream to provide electronic payment processing in other regions of the world including Asia.

DataCash has a single interface that allows organisations to process secure, multi-channel payments anywhere in the world. PayStream will also offer integrated measures to minimise an organisations exposure to fraud without unduly affecting the experience they are able to offer their customers.

PayStream can now provide effective solutions for the changing landscape of international payments and won’t let cross border complexities limit an organisation’s global ambitions.

PayStream and DataCash provide a one-stop-shop for any Merchants’ payments needs, from penetrating new market segments with a wide range of Alternative Payment Methods to generating additional revenue streams with services such as the most effective Dynamic Currency Conversion.

For further information, please contact PayStream at: support@paystreampay.co.uk

PayStream™ is pleased to announce that it has achieved Level 1 compliance with the Payment Card Industry (PCI) Data Security Standard (DSS) for both its datacenters located in North America and Europe.

PCI DSS was developed globally to ensure merchants and service providers adopt best practices to enhance their payment account security. It was developed in 2004 by the card association, which includes: American Express, Discover Financial Services, JCB, MasterCard Worldwide and Visa International. For more information about the PCI DSS visit www.pcisecuritystandards.org

Being PCI compliant assures that with PayStream’s products and technology, merchant and cardholder data is protected by the industry’s highest security standards.

In order to verify PayStream validation as a PCI/DSS Compliant processor, please check our certificate

These are the outstanding PCI DSS compliance deadlines for 2009 (from the VISA corporate site).

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More information
Cardholder Information Security Program | Merchants | Visa USA

If you have any further comments or questions, please do not hesitate to contact us at sales@paystreampay.co.uk