Ecommerce Europe publishes its position on the Payment Services Regulation


Ecommerce Europe published its position paper on the European Commission’s proposal for a Regulation on Payment Services (PSR).

As part of its revision of the second Payment Services Directive (PSD2), the European Commission proposed a new set of rules to strengthen harmonisation and enforcement by enacting EU payment rules in a directly applicable Regulation. The Payment Services Regulation will aim at combating payment fraud, as well as improve consumer rights. The goal is also to reinforce the functioning of  Open Banking by levelling the playing field between banks and non-banks actors and remove remaining obstacles to providing well-functioning Open Banking services for the benefit of consumers.

Ecommerce Europe strives for an innovative and competitive cross-border payment landscape that can spur the development of secure, consumer-centric, cost-efficient payment solutions across Europe. The Payment Service Regulation represents a great opportunity to further the work already achieved under the framework of PSD2 and ensure that rules in place are future-proof and allow all players to pursue the highest level of consumer protection and convenience. Not only are retailers directly impacted by the Regulation of retail payments, but they also are in a prime position to understand and provide information on consumers’ expectations and behaviour, evolving retail use-cases as well as the impact of existing legislations on the market.

Here are Ecommerce Europe’s key recommendations for a PSR and secondary legislation which will bring about benefits to the whole ecosystem including end-users:

  • Update the Strong Customer Authentication (SCA) framework and standard to ensure the highest level of consumer protection and convenience through harmonised and future-proof rules and implementation.
  • Ensure that the whole ecosystem can take part in the fight against fraud, while ensuring liability lies in the hand of the appropriate actor.
  • Embrace the evolution of retail and consumer behaviour through proportional rules on Merchant Initiative Transactions and Limited Network Exemption.
  • Maintain the ambition on Open Banking and ensure sufficient flexibility to allow for innovation.

You can access the full position paper  here.

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