The next evolution of EU Payments:
an update on PSD3 and PSR
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BKO
September 30, 2025
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On the morning of Tuesday, 10 February 2026, Finologee participated in PwC Luxembourg’s Alternatives Hub conference, where Jonathan Prince (co-founder & CSO) and Stefan Kirsch (Head of Business Development) were invited to present Finologee’s Banking Orchestrator, BKO, during the plenary session.
Assumption based on current status and trilologue negotiations ”Some PSR provisions will become applicable D+24-30 (pending negotiation results)
Black Red
- Strengthen consumer protection and combat emerging forms of payment fraud.
- Improve the functioning and enforcement of Open Banking.
- Further harmonise the EU payments market by moving many provisions into a Regulation (PSR), ensuring identical application across all member states.
- Final political agreement: There is strong political momentum to conclude the trilogue negotiations by late 2025 or the first quarter of 2026.
- Formal adoption: Following a legal-linguistic review, the final texts would be formally adopted, likely in mid-2026.
1. Enhanced fraud prevention
The second Payment Services Directive (PSD2) fundamentally reshaped the European financial landscape, ushering in the era of Open Banking. Now, the European Union is preparing for the next significant evolution with a new legislative package: the Third Payment Services Directive (PSD3) and the Payment Services Regulation (PSR).
2. Enhanced fraud prevention
The second Payment Services Directive (PSD2) fundamentally reshaped the European financial landscape, ushering in the era of Open Banking. Now, the European Union is preparing for the next significant evolution with a new legislative package: the Third Payment Services Directive (PSD3) and the Payment Services Regulation (PSR).
- Strengthen consumer protection and combat emerging forms of payment fraud.
- Improve the functioning and enforcement of Open Banking.
- Further harmonise the EU payments market by moving many provisions into a Regulation (PSR), ensuring identical application across all member states.
“We see this legislative transition as a robust roadmap to delivering on three strategic imperatives: strengthening consumer trust, perfecting the open banking framework and creating a more harmonised and competitive market.”
Raoul Mulheims, CEO and co-founder of Finologee
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