The Payment Services Regulation (PSR) and PSD3 proposals offer some welcome updates that can strengthen the current state of the payments market, provided that some important elements are integrated, most notably on fraud and liability, open banking and strong customer authentication (SCA).
The Payment Services Directive has been a cornerstone of EU payments legislation and is fundamentally important in ensuring high levels of consumer protection and security of transactions, whilst fostering an innovative and competitive EU payments market, characterised by a level playing field between all providers of payment services.
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