James Wood’s Post

On 23 April 2024, the European Parliament announced its adoption at first reading of amended texts of the European Commission’s June 2023 legislative proposals for a Directive on payment services and electronic money services (PSD3) and a Regulation on payment services in the EU (PSR). This was followed on 29 April by the European Banking Authority’s (EBA) publication of an Opinion on new types of payment fraud, setting out additional measures for consideration by the EU co-legislators and the Commission in the negotiation of the PSD3/PSR proposals. Hogan Lovells provides the story so far, the key points to be aware of and next steps. Click the link below for the full article.

On 23 April 2024, the European Parliament announced its adoption at first reading of amended texts of the European Commission’s June 2023 legislative proposals for a Directive on payment services and electronic money services (PSD3) and a Regulation on payment services in the EU (PSR). This was followed on 29 April by the European Banking Authority’s (EBA) publication of an Opinion on new types of payment fraud, setting out additional measures for consideration by the EU co-legislators and the Commission in the negotiation of the PSD3/PSR proposals. Hogan Lovells provides the story so far, the key points to be aware of and next steps. Click the link below for the full article.

On 23 April 2024, the European Parliament announced its adoption at first reading of amended texts of the European Commission’s June 2023 legislative proposals for a Directive on payment services and electronic money services (PSD3) and a Regulation on payment services in the EU (PSR). This was followed on 29 April by the European Banking Authority’s (EBA) publication of an Opinion on new types of payment fraud, setting out additional measures for consideration by the EU co-legislators and the Commission in the negotiation of the PSD3/PSR proposals. Hogan Lovells provides the story so far, the key points to be aware of and next steps. Click the link below for the full article.

On 23 April 2024, the European Parliament announced its adoption at first reading of amended texts of the European Commission’s June 2023 legislative proposals for a Directive on payment services and electronic money services (PSD3) and a Regulation on payment services in the EU (PSR). This was followed on 29 April by the European Banking Authority’s (EBA) publication of an Opinion on new types of payment fraud, setting out additional measures for consideration by the EU co-legislators and the Commission in the negotiation of the PSD3/PSR proposals. Hogan Lovells provides the story so far, the key points to be aware of and next steps. Click the link below for the full article.

On 23 April 2024, the European Parliament announced its adoption at first reading of amended texts of the European Commission’s June 2023 legislative proposals for a Directive on payment services and electronic money services (PSD3) and a Regulation on payment services in the EU (PSR). This was followed on 29 April by the European Banking Authority’s (EBA) publication of an Opinion on new types of payment fraud, setting out additional measures for consideration by the EU co-legislators and the Commission in the negotiation of the PSD3/PSR proposals. Hogan Lovells provides the story so far, the key points to be aware of and next steps. Click the link below for the full article.

On 23 April 2024, the European Parliament announced its adoption at first reading of amended texts of the European Commission’s June 2023 legislative proposals for a Directive on payment services and electronic money services (PSD3) and a Regulation on payment services in the EU (PSR). This was followed on 29 April by the European Banking Authority’s (EBA) publication of an Opinion on new types of payment fraud, setting out additional measures for consideration by the EU co-legislators and the Commission in the negotiation of the PSD3/PSR proposals. Hogan Lovells provides the story so far, the key points to be aware of and next steps. Click the link below for the full article.

On 23 April 2024, the European Parliament announced its adoption at first reading of amended texts of the European Commission’s June 2023 legislative proposals for a Directive on payment services and electronic money services (PSD3) and a Regulation on payment services in the EU (PSR). This was followed on 29 April by the European Banking Authority’s (EBA) publication of an Opinion on new types of payment fraud, setting out additional measures for consideration by the EU co-legislators and the Commission in the negotiation of the PSD3/PSR proposals. Hogan Lovells provides the story so far, the key points to be aware of and next steps. Click the link below for the full article.

In June 2023, we provided an overview of the published proposals for a Directive on payment services and electronic money services and a Regulation on payment services in the EU. Fast forward to 23 April 2024, the Parliament has decided to adopt both proposals, the key points of which we analyze including the authorization process of existing payments and e-money firms, improving anti-fraud protection for consumers, requirements for Open Banking, and more. Our current view is that the PSR could take effect in H2 2026, with PSD3 taking full effect in early 2027 in light of the European elections and the European Commission having to be sworn in before the inter-institutional negotiations can begin.

In June 2023, we provided an overview of the published proposals for a Directive on payment services and electronic money services and a Regulation on payment services in the EU. Fast forward to 23 April 2024, the Parliament has decided to adopt both proposals, the key points of which we analyze including the authorization process of existing payments and e-money firms, improving anti-fraud protection for consumers, requirements for Open Banking, and more. Our current view is that the PSR could take effect in H2 2026, with PSD3 taking full effect in early 2027 in light of the European elections and the European Commission having to be sworn in before the inter-institutional negotiations can begin.

In June 2023, we provided an overview of the published proposals for a Directive on payment services and electronic money services and a Regulation on payment services in the EU. Fast forward to 23 April 2024, the Parliament has decided to adopt both proposals, the key points of which we analyze including the authorization process of existing payments and e-money firms, improving anti-fraud protection for consumers, requirements for Open Banking, and more. Our current view is that the PSR could take effect in H2 2026, with PSD3 taking full effect in early 2027 in light of the European elections and the European Commission having to be sworn in before the inter-institutional negotiations can begin.