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Digital & dataJuly 31 2023

What do the EU PSD3 proposals mean for the payments sector?

Payments firms have a host of changes to reckon with, writes Max Savoie. 
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What do the EU PSD3 proposals mean for the payments sector?Image: Getty Images

On June 28, the European Commission published proposals for a third Payment Services Directive (PSD3) and a Payment Services Regulation (EU PSR). 

PSD3 sets out the rules for the authorisation and supervision of non-bank payment service providers (PSPs), while the EU PSR contains detailed rules that all PSPs (including banks) must comply with when providing payment services. 

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