The development of regulatory requirements for payment services: The European Banking Authority and the revised Payments Services Directive

Dirk Haubrich

Journal of Payments Strategy & Systems, 2018, vol. 12, issue 2, 130-138

Abstract: On 13th January 2018, the revised EU Payment Services Directive (PSD2) came into effect in the European Union with the aim inter alia of enhancing competition and facilitating innovation in payment services, by opening access to the payment accounts held by banks. The resultant opportunities for firms and consumers are immense, as have been the challenges for the regulatory authorities that tasked with supporting the objectives of PSD2 by developing a number of detailed regulatory requirements. As this process is drawing to a close, an opportune moment presents itself to take stock and provide an account of those challenges, as seen through the eyes of the European Banking Authority (EBA), and how the EBA decided to overcome them.

Keywords: payment services; regulation; supervision; European Union; account access; security (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2018:v:12:i:2:p:130-138

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