{"id":24572,"date":"2026-04-29T16:06:27","date_gmt":"2026-04-29T14:06:27","guid":{"rendered":"https:\/\/www.haslinger-nagele.com\/psd3-und-psr-auf-der-zielgeraden\/"},"modified":"2026-05-06T09:50:39","modified_gmt":"2026-05-06T07:50:39","slug":"psd3-und-psr-auf-der-zielgeraden","status":"publish","type":"post","link":"https:\/\/www.haslinger-nagele.com\/en\/psd3-und-psr-auf-der-zielgeraden\/","title":{"rendered":"PSD3 and PSR on the home stretch"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">On November 27th, 2025, the European Parliament and the Council reached a fundamental political agreement on the Payment Services Regulation <strong>(PSR)<\/strong> and the Third Payment Services Directive <strong>(PSD3)<\/strong>. The regulations cover the <strong>entire operational spectrum of payment transactions<\/strong> \u2013 from fraud prevention through Open Banking to cash supply \u2013 and represent a further development and refinement of the existing framework. <strong>The publication<\/strong> of the two legal acts is expected in the <strong>coming months<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong><strong>Key innovations<\/strong><\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The currently proposed drafts follow a <strong>clear division of responsibilities<\/strong>: As an EU regulation, the <strong>PSR<\/strong> governs the <strong>substantive rules<\/strong> <strong>of conduct and obligations<\/strong> for all payment service providers \u2013 that is, all operational requirements regarding fraud prevention, transparency, Open Banking, and customer protection. The <strong>PSD3<\/strong>, by contrast, governs the <strong>institutional side<\/strong> as a directive \u2013 in particular, the licensing and supervision of payment institutions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Subject to the review of the final texts, essential aspects can already be gleaned from the Commission\u2019s proposal for the PSR and PSD3 as well as the <strong>respective responses<\/strong> from the Parliament or the press releases of the Council:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1. <strong>Enhanced fraud prevention and consumer protection<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The PSR introduces a comprehensive <strong>system of obligations for combating fraud<\/strong>, which goes significantly beyond the previous requirements of PSD2:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Expanded transaction monitoring<\/strong>: Payment service providers must implement risk-based real-time transaction monitoring, based on the analysis of previous payment transactions, including checks against <strong>known fraud scenarios, compromised authentication elements<\/strong>, and <strong>anomalous usage behavior<\/strong>. Additionally, the European Banking Authority (EBA) is tasked with setting up a <strong>dedicated IT platform<\/strong> for the exchange of fraud-related information among payment service providers.<\/li>\n\n\n\n<li><strong>Verification of payee<\/strong>: Before each transfer, the consistency of the <strong>payee\u2019s name and IBAN<\/strong> must be checked (similar to what is already provided by the Instant Payment Regulation). In the event of discrepancies, the payment must be rejected and the payer informed.<\/li>\n\n\n\n<li><strong>Spoofing reimbursement<\/strong>: In cases of <strong>identity fraud (spoofing)<\/strong>, where a fraudster impersonates an employee of a payment service provider, the provider must <strong>reimburse the full amount<\/strong>, provided the customer <strong>reports the fraud to the police<\/strong> and informs their payment service provider. An exception exists in cases of <strong>gross negligence<\/strong> by the customer, with the burden of proof lying with the payment service provider.<\/li>\n\n\n\n<li><strong>Limits and blocking functions<\/strong>: Payment service providers must offer their customers <strong>spending limits and blocking features<\/strong>, which the customer can adjust individually.<\/li>\n\n\n\n<li><strong>Liability of online platforms<\/strong>: Large online platforms are liable to payment service providers for reimbursed damages if they were informed of <strong>fraudulent content<\/strong> and failed to <strong>remove it<\/strong> \u2013 building on the obligations under the <strong>Digital Services Act<\/strong>.<\/li>\n\n\n\n<li><strong>Human customer support<\/strong>: Users must have <strong>access to human customer support<\/strong> \u2013 chatbots alone do not meet the requirements.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">2. <strong>Greater transparency and improved access to cash<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Fee transparency at ATMs<\/strong>: Customers must be fully informed of all applicable fees and exchange rates (as well as any associated surcharges) <strong>before each transaction<\/strong>.<\/li>\n\n\n\n<li><strong>Cash withdrawals without purchase<\/strong>: Retailers may voluntarily offer cash withdrawals of up to EUR 150 even <strong>without a purchase<\/strong> to improve access to cash, particularly in <strong>rural areas<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">3. <strong>Open banking and competition<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Dashboard<\/strong>: Account-holding payment service providers must provide an integrated <strong>dashboard<\/strong> on the user interface through which customers can monitor, manage, and revoke the <strong>access permissions<\/strong> they have granted for their data free of charge.<\/li>\n\n\n\n<li><strong>Non-discriminatory account access<\/strong>: Banks must grant payment institutions access to payment accounts on a <strong>non-discriminatory basis<\/strong>. A list of <strong>prohibited barriers<\/strong> to data access will be enshrined in law.<\/li>\n\n\n\n<li><strong>FRAND access to mobile devices<\/strong>: Mobile device manufacturers must enable front-end service providers to store and transmit data for payment transactions on <strong>fair, reasonable, and non-discriminatory (FRAND) terms<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">4. <strong>Simplified authorization<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <strong>authorization procedure<\/strong> for payment institutions will be simplified; the <strong>initial capital<\/strong> will be <strong>risk-adjusted<\/strong> and linked to the type of payment services provided. <strong>Crypto-asset service<\/strong> <strong>providers<\/strong> that are already authorized under the <strong>MiCA Regulation<\/strong> will undergo a <strong>simplified procedure<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Sanctions<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The PSR provides for a <strong>stricter sanctions regime<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Member states must provide for <strong>effective, proportionate, and dissuasive<\/strong> administrative sanctions and measures for breaches of the PSR. For specific <strong>core violations<\/strong> \u2013 particularly those related to account access, secure data access arrangements, fraud prevention mechanisms including strong customer authentication, and ATM fee transparency \u2013 severe sanctions are envisaged. For <strong>legal entities<\/strong>, administrative fines of <strong>at least 7.5%\u201310% of annual turnover<\/strong> or at least <strong>twice the profit generated by the violation are under consideration<\/strong>. In addition, <strong>public notices<\/strong>, <strong>cease and desist orders<\/strong>, and <strong>temporary bans<\/strong> on conducting business for executives may be imposed.<\/li>\n\n\n\n<li>Furthermore, competent authorities may impose <strong>periodic penalty payments<\/strong> for ongoing violations (up to six months).<\/li>\n\n\n\n<li>The <strong>publication<\/strong> of all sanction decisions on the websites of the competent authorities is planned and is intended to have an <strong>additional deterrent effect<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Next steps<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The final details are currently being worked out. The legislative acts are expected to be adopted by the European Parliament and the Council and subsequently <strong>published<\/strong> in the <strong>coming months<\/strong>. After that, those affected will likely have 18 months (this period is still under discussion) to implement the changes: The PSR is expected to apply as an EU regulation from the <strong>end of 2027 or beginning of 2028<\/strong>, while the PSD3 (as a directive) will need to be implemented nationally by that time. <strong>Existing authorizations under PSD2<\/strong> will provisionally continue, likely for up to <strong>30 months after entry into force<\/strong>; however, within this period, a timely application for reauthorization must be submitted.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It is therefore already advisable to use the <strong>year 2026 as a preparation phase<\/strong> to review the regulatory requirements in detail and identify areas for action.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Disclaimer<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">This article is for general information only and does not replace legal advice. Haslinger \/ Nagele Rechtsanw\u00e4lte GmbH assumes no liability for the content and correctness of this article.<\/p>\n\n\n\t\t\t\t\t\t\t\t\t<div class=\"cards-thumbs-round align-full\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"container\">\n\n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"row\">\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"col-12 col-lg-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"intro\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t      <h2 class=\"light\">Authors:<\/h2>\n\t\t\t\t\t\t\t\t\t\t\t\t    \n\t\t\t\t\t\t\t\t\t\t\t\t    \n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"col-12 col-lg-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"row\">\n\n\t\t\t\t\t\t\t\t\t\t    \n\t\t\t\t\t\t\t\t\t\t\t   \t\n\t\t\t\t\t\t\t\t\t\t   \t\t<div class=\"col-12 col-lg-4\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"item h-100\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  <img decoding=\"async\" src=\"https:\/\/www.haslinger-nagele.com\/wp-content\/uploads\/2025\/08\/MeisingerBirgit_HaslingerNagele_quadratisch-min.jpg\" alt=\"Portr\u00e4tfoto Birgit Meisinger, Rechtsanw\u00e4ltin, eingetragene Mediatorin Haslinger\/Nagele, Portrait von Julia Spicker\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t    \t\t\t\t\t\t\t\t\t\t\t\t\t\t        <a href=\"https:\/\/www.haslinger-nagele.com\/en\/team\/birgit-meisinger\/\" \n\t\t\t\t\t\t\t\t\t\t\t\t\t\t          target=\"_blank\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t          Birgit Meisinger\t\t\t\t\t\t\t\t\t\t\t\t\t\t        <\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t    \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t      Attorney-at-Law\t\t\t\t\t\t\t\t\t\t\t\t\t\t    \n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t\t    \n\t\t\t\t\t\t\t\t\t\t\t   \t\n\t\t\t\t\t\t\t\t\t\t   \t\t<div class=\"col-12 col-lg-4\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"item h-100\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  <img decoding=\"async\" src=\"https:\/\/www.haslinger-nagele.com\/wp-content\/uploads\/2026\/04\/MuellerLeonie_HaslingerNagele_quadratisch.jpg\" alt=\"Leonie M\u00fcller, Portr\u00e4t, quadratisch, Fotografin: Julia Spicker\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t    \t\t\t\t\t\t\t\t\t\t\t\t\t\t        <a href=\"https:\/\/www.haslinger-nagele.com\/en\/team\/leonie-mueller\/\" \n\t\t\t\t\t\t\t\t\t\t\t\t\t\t          target=\"_blank\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t          Leonie M\u00fcller\t\t\t\t\t\t\t\t\t\t\t\t\t\t        <\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t    \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t      Attorney-at-Law\t\t\t\t\t\t\t\t\t\t\t\t\t\t    \n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t\t    \n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<div class=\"cards-thumbs-round align-full\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"container\">\n\n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"row\">\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"col-12 col-lg-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"intro\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t      <h2 class=\"light\">Further information on this legal field can be found here<\/h2>\n\t\t\t\t\t\t\t\t\t\t\t\t    \n\t\t\t\t\t\t\t\t\t\t\t\t    \n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"col-12 col-lg-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"row\">\n\n\t\t\t\t\t\t\t\t\t\t    \n\t\t\t\t\t\t\t\t\t\t\t   \t\n\t\t\t\t\t\t\t\t\t\t   \t\t<div class=\"col-12 col-lg-4\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"item h-100\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t  <img decoding=\"async\" src=\"https:\/\/www.haslinger-nagele.com\/wp-content\/uploads\/2018\/07\/bulle-baer-square.png\" alt=\"Bank &amp; Kapitalmarkt | Haslinger \/ Nagele, Illustration: Karlheinz Wasserbacher\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t    \t\t\t\t\t\t\t\t\t\t\t\t\t\t        <a href=\"https:\/\/www.haslinger-nagele.com\/en\/r\/banking-capital-markets\/\" \n\t\t\t\t\t\t\t\t\t\t\t\t\t\t          target=\"_blank\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t          Banking &amp; Capital Markets Law\t\t\t\t\t\t\t\t\t\t\t\t\t\t        <\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t    \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t\t    \n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>2026 will bring sweeping changes to payment regulations at the EU level. Birgit Meisinger and Leonie M\u00fcller provide insights into the key changes.<\/p>\n","protected":false},"author":17,"featured_media":800,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[31],"class_list":["post-24572","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"modified_by":"Empfang","_links":{"self":[{"href":"https:\/\/www.haslinger-nagele.com\/en\/wp-json\/wp\/v2\/posts\/24572","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.haslinger-nagele.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.haslinger-nagele.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.haslinger-nagele.com\/en\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.haslinger-nagele.com\/en\/wp-json\/wp\/v2\/comments?post=24572"}],"version-history":[{"count":0,"href":"https:\/\/www.haslinger-nagele.com\/en\/wp-json\/wp\/v2\/posts\/24572\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.haslinger-nagele.com\/en\/wp-json\/wp\/v2\/media\/800"}],"wp:attachment":[{"href":"https:\/\/www.haslinger-nagele.com\/en\/wp-json\/wp\/v2\/media?parent=24572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.haslinger-nagele.com\/en\/wp-json\/wp\/v2\/categories?post=24572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}