EU Payments Services Regulation: EuroISPA’s opinion

EuroISPA’s position on the EU Payments Package

In 2023, the European Commission put forward proposals to bring payments and the wider financial sector into the digital age, including through a proposal for a Payment Services Regulation (PSR).

EuroISPA finds the European Parliament’s position on the PSR worrying, and most notably the contents of Article 59 of the proposed Regulation on the liability of Electronic Communications Operators in the occurrence of impersonation fraud. 

In the context of the discussions on the file currently entering the Council of the EU arena, we are now sharing our opinion concerning Article 59, advocating for the removal of the article altogether, for the strengthened cooperation between all players involved, as well as for the empowerment of consumers to make knowledgeable and safe decisions to better combat fraud.