In the future, there will not only be a PSD3, but also an accompanying regulation (PSR).
The PSR is to directly establish the general rules for payment contracts, liability, fraud prevention and, in particular, strong customer authentication for all payment service providers (especially banks and payment institutions).
The rules for the licensing and supervision of payment institutions will be found in the new PSD3 in the future.
In this article, our expert for payment traffic law and FinTech, Dr. Matthias Terlau, classifies the notable innovations.
