On June 18, 2025, the Council of the European Union (EU) took a significant step forward in modernising the EU’s payment services framework by formally agreeing on its negotiating mandate for the Payment Services Directive 3 (PSD3) and the Payment Services Regulation (PSR). This decision marks a pivotal moment in the legislative process, enabling the Council presidency to begin negotiations with the European Parliament on the final text of the proposals.
As a reminder, the PSD3 and PSR proposals are part of the European Commission’s broader Digital Finance Strategy, aimed at fostering innovation, enhancing consumer protection, and strengthening the EU’s financial ecosystem.
The Council’s position introduces several key enhancements to the current framework, including stronger anti-fraud measures, enhanced protection for payment service users, and measures aimed at further supporting open banking.
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