PSD 3 is in the works. The European Union is requesting the public to provide feedback on the EU Payment Services Directive (PSD2). The initiative has two parts: 1) Potential amendments to the current framework and, 2) Additions related to emerging technologies not accounted for in PSD2 such as buy now pay later (BNPL) and cryptocurrency payments.
The European Commission launched three consultation documents for stakeholders to provide their feedback.
PSD3 process undertakes a review of EU rules for payment services
This request is for a wide variety of stakeholders that have any connection to payment services:
This public consultation is addressed to the general public and a broad range of stakeholders. Views are welcome from users of payment services (consumers, corporate users and merchants), relevant public authorities, national regulators and other parties interested in open finance (data vendors, consumer organizations, fintechs). This consultation is specifically designed for respondents that have minimum technical knowledge about the payment industry or about data access and reuse in the context of open finance.”
The full consultation document can be found here.
PSD3 will include targeted consultation on the review of the revised payment services Directive
“The targeted consultation will gather input from more professional stakeholders. Views are welcome in particular from individuals and organizations (e.g. interest groups, member associations and representative bodies) that have more in-depth (technical) knowledge and/or (working) experience in the field of payments, such as PSPs, national- and EU authorities and –regulators, payment experts etc.”
The full consultation document can be found here.
PSD3 will incorporate a targeted consultation on open finance framework and data sharing in the financial sector
“This public consultation is addressed to a broad range of stakeholders. Views are welcome from payment service users (consumers, corporate users and merchants), relevant public authorities, national regulators and others. This consultation is specifically designed for respondents that have little knowledge about the payment industry and relevant laws.
The targeted consultation will gather input from more professional stakeholders. Views are welcome in particular from individuals and organizations (e.g. interest groups, member associations and representative bodies) that have more in-depth knowledge and/or (working) experience in the field of payments, such as PSPs, national- and EU authorities and –regulators, payment experts etc.”
The full consultation document can be found here.
Additional reading at Lexology.