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🌍
Jurisdiction
European Union
📅
Effective Date
2026
Jan 1, 2026
✅
Full Compliance
2027
Jun 1, 2027
🏛️
Regulator
European Banking Authority
Overview
The proposed third Payment Services Directive aims to address shortcomings of PSD2, improve API performance standards, enhance fraud prevention, and extend open banking principles. It will work alongside FIDA for broader data sharing.
Scope & Coverage
AISPISCBPIIOpen Finance
Key Requirements
1
Enhanced API performance standards2
Improved SCA flexibility3
Stronger fraud liability framework4
Better IBAN-name verificationKey Notes
Expected to be adopted by 2024-2025 with implementation by 2026-2027.
Official Resources
Related Regulations
Other open banking frameworks in Europe:
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