Industry Begs Commission To Rework PSD2 Standards

Dozens of payments providers and industry bodies have pleaded for European Commission intervention in the drafting of EU-wide security standards, warning that current proposals risk “chilling” e-commerce across the bloc.

An open letter, drafted during discussions in Brussels last week and made public yesterday, argued that draft standards proposed by the European Banking Authority (EBA) must be reconfigured to avoid a collapse in the number of consumers paying for goods and services online.

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