- PSPs in the EU will be liable for customer losses if they don’t have sufficient safeguards in place
- Sending PSPs must verify account details, receiving PSPs must freeze suspicious payments
- The EU is also calling for greater fee transparency and access to cash
The European Parliament and Council have reached an agreement on the Payment Services Regulation (PSR) and the Third Payment Services Directive (PSD3), with the aim of both protecting customers against losses and improving access to banking services and cash.
