On 28 June 2023, the European Commission adopted its new legislative proposals revising the EU’s payment services framework. The new framework incorporates a revised Directive (PSD3) and a new Regulation (PSR).

Elie Beyrouthy, EPIF Chair, commented: “EPIF welcomes these important legislative proposals that reflect the evolving landscape of the European payments market. EPIF grew out of the original PSD and our membership now represents 12 different payment models and represents about 40% of the EU payments market of non-bank payments. We are particularly excited about the possibility of giving our members direct access to the central banks’ payment system and look forward to working with the European Commission, European Parliament and Member States in finalizing this legislation.”

More details on our initial reactions to the Package can be found below.