Preparing for PSD3 with LOQR as a partner

Author LOQR

The EU payment services market has undergone significant changes since the introduction of the previous Payment Services Directive (PSD2), due to the increasing use of electronic payments and new service providers that offer open banking services. 

In this Digital Age, these market developments in the financial sector put into perspective the growing need to update the rules and regulations regarding payment services. With this in mind, the European Commission recently proposed a new set of regulations that will amend PSD2, which will become PSD3, and introduce a Payment Services Regulation (PSR). 

Still under development, PSD3 is an EU directive whose main objective, alongside improving competition in the payment sector, is to protect consumer rights by enabling them to safely share their personal information. This directive will therefore increase the availability of a broader range of innovative financial products and services.

Understanding PSD3 is crucial for financial institutions and payment service providers. Explore our latest whitepaper to gain insights into how this directive will reshape the payments industry. 

Download the Whitepaper