Purpose and structure of the consultation The targeted consultation aims to gather evidence for the review of PSD2. It will assess the effectiveness, efficiency, coherence, relevance and value-added to the EU by the PSD2.
The aim is to ensure that PSD2 continues to enable a more integrated, competitive, and efficient European payments market, a level playing field for all payment service providers, safer and more secure payments and consumer protection.
The consultation is targeted at people representing or from:
- Payment service providers
- Payment service users
- National authorities
- EU authorities and international organisations
- Other players in the payments market
- Other stakeholders
The commission recognises that the market has changed since the implementation of PSD2. There are new services and different needs. The consultation will examine whether newcomers and traditional players are treated equally, based on the principle of “same business, same risks, same rules”. It will determine if the PSD2 objectives have been achieved or if changes are needed (and, if so, the type and scope of changes).
There will be two dimensions to the review:
- Backward-Looking – Evaluation of the application and impacts of the PSD2
- Forward-looking – Assess the need for legislative amendments to ensure that the EU legal framework for retail payments remains fit for purpose and future-proof