The Financial Data Access (FiDA) Regulation
The European Financial Data Space (EFDS)
Description: Understanding the Payment Services Directive 3 (PSD3) and the Payment Services Regulation (PSR) - what it means to EU and non-EU entities
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What is the Payment Services Directive 3 (PSD3) and the Payment Services Regulation (PSR)?
On June 28, 2023, the European Commission published the proposal for a Third Payment Services Directive (PSD3), and the proposal for the Payment Services Regulation (PSR), to bring payments and the wider financial sector into the digital age.
The new rules will improve consumer protection and competition in electronic payments, and will empower consumers to share their data in a secure way so that they can get a wider range of better and cheaper financial products and services.
The Financial Data Access (FiDA) Regulation
The European Financial Data Space (EFDS)