Modernising payment services and enhancing open banking: a comparison of recent EU proposals of payment services directive 3 (PSD3) and payment services regulation (PSR) with current PSD2
Identifikátory výsledku
Kód výsledku v IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F68407700%3A21630%2F23%3A00372332" target="_blank" >RIV/68407700:21630/23:00372332 - isvavai.cz</a>
Výsledek na webu
<a href="https://adjuris.ro/reviste/hlbf/Horizons%20of%20Law%20in%20Business%20and%20Finance.pdf" target="_blank" >https://adjuris.ro/reviste/hlbf/Horizons%20of%20Law%20in%20Business%20and%20Finance.pdf</a>
DOI - Digital Object Identifier
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Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
Modernising payment services and enhancing open banking: a comparison of recent EU proposals of payment services directive 3 (PSD3) and payment services regulation (PSR) with current PSD2
Popis výsledku v původním jazyce
The article provides a comparative analysis of the fundamental developments of the recently published EU Financial Data Access and Payments Package. It focuses on the comparison of the proposal of the Payment Services Directive 3 (PSD 3) and a new Payment Services Regulation (PSR) with the current PSD2. Among the main features, the European Commission promises improvements mainly in the protection of Payment Services Users and also in the area of competitiveness in the financial sector. Besides PSD3, the new PSR, which will be directly applicable in the whole EU, will tackle forum shopping by increasing the harmonisation in different Member States. Regarding competitiveness, the proposed framework aims to increase competitiveness by further enhancing open banking with a dedicated interface (API) for exchanging information between market players and providing users with dashboards to monitor and manage their consent with data sharing easily. However, the proposed framework repeals some PSD2 exceptions and imposes unnecessary administrative burden on specific types of businesses, such as foreign exchange services or limited networks, or fails to include sufficient temporary provisions allowing for uninterrupted operations. The article presents a critical discussion of proposed changes and their potential impact on practice. The new framework is just at the beginning of the legislative process, and the finally approved PSD3 and PSR are expected to be applicable in 2026 at the earliest.
Název v anglickém jazyce
Modernising payment services and enhancing open banking: a comparison of recent EU proposals of payment services directive 3 (PSD3) and payment services regulation (PSR) with current PSD2
Popis výsledku anglicky
The article provides a comparative analysis of the fundamental developments of the recently published EU Financial Data Access and Payments Package. It focuses on the comparison of the proposal of the Payment Services Directive 3 (PSD 3) and a new Payment Services Regulation (PSR) with the current PSD2. Among the main features, the European Commission promises improvements mainly in the protection of Payment Services Users and also in the area of competitiveness in the financial sector. Besides PSD3, the new PSR, which will be directly applicable in the whole EU, will tackle forum shopping by increasing the harmonisation in different Member States. Regarding competitiveness, the proposed framework aims to increase competitiveness by further enhancing open banking with a dedicated interface (API) for exchanging information between market players and providing users with dashboards to monitor and manage their consent with data sharing easily. However, the proposed framework repeals some PSD2 exceptions and imposes unnecessary administrative burden on specific types of businesses, such as foreign exchange services or limited networks, or fails to include sufficient temporary provisions allowing for uninterrupted operations. The article presents a critical discussion of proposed changes and their potential impact on practice. The new framework is just at the beginning of the legislative process, and the finally approved PSD3 and PSR are expected to be applicable in 2026 at the earliest.
Klasifikace
Druh
D - Stať ve sborníku
CEP obor
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OECD FORD obor
50501 - Law
Návaznosti výsledku
Projekt
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Návaznosti
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Ostatní
Rok uplatnění
2023
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Údaje specifické pro druh výsledku
Název statě ve sborníku
Horizons of Law in Business and Finance
ISBN
978-606-95862-2-8
ISSN
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e-ISSN
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Počet stran výsledku
10
Strana od-do
217-226
Název nakladatele
ADJURIS – International Academic Publisher
Místo vydání
Bukutešť
Místo konání akce
Praha
Datum konání akce
25. 10. 2023
Typ akce podle státní příslušnosti
WRD - Celosvětová akce
Kód UT WoS článku
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