New payments rules aim to break up banks’ monopoly of the payments system in Europe.  It’s ultimately aimed at making it cheaper for consumers and retailers to do business.

What’s up with all these rule “overhauls” I’ve been hearing about lately that are supposed to change the world for European consumers and investors? I(...)

The EU Payments Services Directive 2 is aimed at giving non-banking firms including tech giants such as Amazon, Apple and Facebook a chance to compete with traditional banks in the payments business. Photograph: Cyril Byrne

Consumers and retailers will have more choice when it comes to making payments for products and services under new rules coming into force this weeken(...)