What is PSD3?
Payment Services Directive 3 (PSD3) is the European Commission’s June 2023 legislative proposal to replace PSD2, accompanied by a parallel Payment Services Regulation (PSR). The package responds to PSD2 implementation lessons (uneven open banking, persistent fraud, ambiguous TPP rules) and aligns payment services with adjacent files (Digital Euro, FIDA — Financial Data Access). Adoption and entry-into-force are expected progressively; specific dates depend on the legislative trilogue outcome.
Key proposed changes
- Single rulebook via PSR: directly applicable EU-wide, reducing national divergence.
- Anti-fraud measures: mandatory IBAN-name check, sharing fraud data, mandatory refund for “spoofing” frauds in some categories.
- Enhanced TPP access: stricter API performance standards, “obstacles” elimination, dedicated dispute resolution.
- Consolidated PSP licensing: merger of PIs and EMIs into unified Payment Institution authorisation.
- SCA refinements: clarified exemption scope, accessibility provisions, dynamic linking.
- Cash access: rules promoting continued retail cash access via merchants.
FIDA — Financial Data Access
The parallel Financial Data Access Regulation (FIDA) extends open-banking-style access from payment accounts to broader financial data categories: investments, insurance, pensions, mortgages, savings. PSD3 + PSR + FIDA together create the modern open finance regime in the EU.
Türk fintechleri için
Türk fintechler PSD3/PSR/FIDA değişikliklerini erken takip etmelidir; AB üyelik dışında olsa da BDDK Açık Bankacılık çerçevesi tarihsel olarak AB modelini izledi ve PSD3 yenilikleri (IBAN-isim kontrolü, geliştirilmiş TPP API’leri) muhtemelen Türk düzenlemesine de yansıyacaktır. AB pazarına yönelik Türk fintechlerin lisans stratejilerini PSD3 takvimine göre planlaması gerekir.
Do: track the PSD3/PSR/FIDA trilogue and prepare licensing transition plans; benchmark IBAN-name check and fraud-prevention capabilities now.
Don’t: postpone PSD3 readiness until PSR is final-published — implementation periods are often shorter than expected.