Open Banking Deadline Delay Not Necessary, Says EBA

The European Banking Authority (EBA) has acknowledged there were “teething problems” around the introduction of third-party account access reforms, but said the fragmented picture across the continent meant there was no case for delaying enforcement.

The authority received praise in June when it announced enforcement of security rules for online card payments would be delayed beyond the September 14 deadline. Issuers, acquirers and merchants had warned the overhaul could drive transaction abandonment and severely damage Europe’s e-commerce industry.

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