New EU package on payment services and financial data access

In 2022, the European Commission evaluated the application and impact of the  second payment services directive (“PSD II”), the conclusions of which resulted in the publication on 28 June 2023 of a new legislative package, including proposals for a new directive on payment services and electronic money services in the internal market (“PSD III”), a regulation on payment services in the internal market (“PSR”), and a regulation on a framework for financial data access (“FiDA”).

For an analysis of the proposed legislation, please read  here.