EPIF is delighted to share its response to the European Commission’s targeted consultation on the review of the revised Payment Service Directive (PSD2).

The payments landscape has changed in the last years, with the entry into force of the PSD2 and developments in technology and FinTech introducing many new players and new payment solutions into the payments market. The PSD2 has led to the emergence of new players and business models in the Single Market offering seamless payment solutions to merchants and customers. This has led to innovation and competition in the payments market. EPIF believes the PSD2 has been successful to some extend. However, more progress is still needed on SCA and certain outstanding issues hamper innovation, such as IBAN discrimination, long registration periods for agents and redirect authentication requirements.