Description: The Regulation (EU) 2021/1230 aims to improve the efficiency and transparency of cross-border payments within the European Union (EU). It requires that cross-border payments in euro or other EU currencies must be treated the same as domestic payments, with no additional fees or charges. The regulation also mandates that payment service providers must disclose all fees and exchange rates upfront to consumers, and ensure that payments are processed within a certain timeframe. Additionally, the regulation promotes the use of innovative payment technologies and encourages competition among payment service providers. Overall, the regulation seeks to create a more integrated and competitive payments market within the EU, benefiting consumers and businesses alike. Publisher: EUR-Lex Source: http://data.europa.eu/eli/reg/2021/1230/oj Last modification: 26/06/2023 EIRA traceability: eira:BindingInstrumentRequirement LOST view: Legal view - Binding Power and Jurisdiction EIRA concept: eira:SolutionBuildingBlock Additional identifier: http://data.europa.eu/eli/reg/2021/1230/oj Title: Regulation (EU) 2021/1230 of the European Parliament and of the Council of 14 July 2021 on cross-border payments in the Union