The European Digital Payments Industry Alliance welcomes the progress made by the European Parliament and the Council of the European Union in the negotiations to revise the EU’s payment services framework (PSD3/R).
In the context of the ongoing trilogue negotiations on PSD3/R, EDPIA believes further refinements are needed to ensure the final legislative package is proportionate, future-proof, and supportive of a fair, secure, and competitive payments ecosystem.
Building on the progress made by co-legislators so far, EDPIA recommends:
- A coordinated approach to fraud prevention involving all relevant stakeholders, including telecom providers and online platforms with proportionate liability frameworks that protect firms from incidents beyond their control and strengthen trust in the digital economy.
- Pragmatic rules for payment institutions that reflect market realities, including clear transitional licensing, alignment of safeguarding requirements with operational practices, prevention of discriminatory de-risking, and reliable open banking interfaces to ensure business continuity.
- Introduction of provisions that will increase the transparency of scheme fees and rules. This will help acquirers and merchants better understand what they are paying for and why, promoting fairness and competition in Europe’s payments market.
Further details are available in our position paper below.