EBA responds to Commission’s call for advice on the review of PSD2

Article summary

The European Banking Authority (EBA) has published an opinion and conjoined report in response to the European Commission’s call for advice on the review of the EU Payment Services Directive 2015/2366/EU (EU PSD2). In its response, the EBA puts forward more than 200 proposals that would contribute to the development of the single EU retail payments market and aim to ensure a harmonised and consistent application of the legal requirements across the EU. In particular, the EBA’s proposals aim at enhancing competition, facilitating innovation, protecting consumers’ funds and data, fostering the development of user-friendly services, and preventing exclusion from access to payment services, as well as ensuring a harmonised and consistent application of the legal requirements across the EU.