The Acts implement the Payment Services Directive (Directive 2007/64/EC of the

European Parliament and of the Council of 13 November 2007 on payment services

in the internal market amending Directives 97/7/EC, 2002/65/EC, 2005/60/EC and

2006/48/EC and repealing Directive 97/5/EC) in Sweden. The Directive provides

the legal foundation for the creation of an EU-wide single market for payments and

has the purpose of creating a more efficient and competitive payment market for

consumers in respect of both domestic and cross-border payments.

The Payment Services Act regulates, amongst other things, how long payment

transactions may take and who shall be liable when a payment transaction has not

been carried out. The Payment Services Act also provides rules governing which

information customers shall receive in connection with payment transactions and

prevents merchants from charging a fee when a cardholder pays by card.

The Act on Unauthorised Transactions with Payment Instruments outlines the

obligations of account-holders when using payment instruments (credit cards etc).

It also sets out the payment liabilities in connection with unauthorised transactions.