PSD3 — PSR — FISP — FIDA — CBDC The New Acronyms That Define The Future of Payments

On June 29, we held the last virtual round table before summer to evaluate the new publications of the European Commission (EC) for the payments industry. The publications on June 28 are fundamental in the future development of Europe’s thriving payments industry.

After digesting PSD and PSD2, it is now time for a PSD3, a PSR (Payments Services Regulation) and the Open Finance Framework, with the introduction of Financial Services Information Providers (FSIP) and Financial Data Access (FIDA). Last but not least, June 28 2023, will be remembered for the Regulation on the Establishment of the Digital Euro Package (Central Bank Digital Currency, CBDC).

Likely I’m missing a few acronyms in the article, but the ones mentioned in here were the most important ones (correct me if I’m wrong). So get ready during summer for a new event season with many new acronyms you didn’t hear before.

Essentially, the idea of the virtual round table a day later, on June 29, was to highlight a couple of elements as a guideline for a deeper study of these documents in the coming weeks and months. I will use this blog to share my personal takeaways from the quick reading of the documents, the comments online and the discussion we had with 20 other experts during The Banking…