The Payment Services Regulation (PSR) was proposed in June 2023 and is part of the EU Payments Package, alongside PSD3 and originally also FIDA. The PSR has been developed in line with the evolving technical developments and consumer requirements and aims to ensure uniform payment rules across EU and eliminate PSD2 implementation inconsistencies.
What is the goal with PSR?
PSR mainly concerns the operational rules for payment services with the aim to:
– improve consumer protection and transparency
– strengthen fraud prevention measures
– harmonize requirements across EU
– ensure a level playing field between banks and third party providers (TPPs)
How will the PSR be implemented in EU Member States?
As a regulation, the PSR is directly applicable in EU Member States without the need for national transposition.
Timeline and status of the PSR:
As of March 2026 the PSR is awaiting formal adoption by European Parliament and Council, after which an implementation period of 18-24 months is expected, allowing market participants time to comply.