Amendment to “reduce frictions for customers”, easy and unsafe? | PSD2, EU

Easy and unsafe? That was the first thing that came to mind when I read the following tweet from EU Finance about the security requirements of PSD2:

 

 

Unfortunately, there was no reference to a Commission source or to the amended requirements. So there is not yet a possibility to look at the complete revision of the RTS.

It probably refers to the consultation on the amendment of the rules (Regulatory Technical Standards, ‘RTS’) on ‘SCA’ (strong customer authentication) and ‘CSC’ (secure communication), which the European Banking Authority (EBA) was working on in the autumn of 2021 and the spring of 2022.

 

More information:

EBA:

European Commission:

The Commission in 2021 held a tender on PSD2 (see also this), title: Study on the Application and Impact of Directive (EU) 2015/2366 on Payment Services (PSD2), description:

To make sure that PSD2 (and its possible amendments) are fit for purpose. The set of rules regarding payments should address the challenges posed by the ongoing digitalisation, foster a competitive and innovative EU payments market with harmonised and technological-neutral conditions, and ensure a high-level of consumer protection, as well as the security and ease of payments. The revision of PSD2 is included in the Commissions “Retail Payments Strategy” of September 2020.

Over Ellen Timmer, advocaat ondernemingsrecht @Pellicaan

Verbonden aan Pellicaan Advocaten, http://www.pellicaan.nl/, kantoor Rotterdam, telefoon 088-6272287, fax 088-6272280, e-mail ellen.timmer@pellicaan.nl ||| Weblogs: algemeen: https://ellentimmer.com/ || modernisering ondernemingsrecht: http://flexbv.wordpress.com/ ||| Motto: goede bedoelingen rechtvaardigen geen slechte regels
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