European Commission vice president Valdis Dombrovskis has threatened further regulatory intervention if banks’ strategies for the revised Payment Services Directive (PSD2) cause “a decline in the quality” of third-party payment services.
In a letter addressed to a trio of senior European regulators and policymakers, seen by PaymentsCompliance, Dombrovskis said that third-party providers’ (TPPs) account access rights “must not be undermined by limitations” in the interfaces banks are building.
To continue reading...
Our Key Benefits
PaymentsCompliance is a premium information service for compliance, legal and regulatory professionals. Our award-winning regulatory monitoring platform is used by many of the world's leading payment services providers and e-money institutions, regulators, challenger banks, fintechs and law firms.
We keep our clients informed of critical regulatory change and help them understand, with in-depth analysis, when change is coming and the implications for their organisation.
We provide our clients with a quantifiable and significant ROI by reducing the amount of time and money spent monitoring and analysing regulatory environments in multiple jurisdictions.