🎧The EU is overhauling payment services regulation – what exactly is behind PSD3 and PSR? Tune in now!
Fresh momentum for payments across Europe
In the first episode of our new series on PSD3 and PSR, host Dana Wondra is joined by Peter Frey, partner at Annerton and expert in financial markets law, to discuss the background and implications of the EU’s ambitious reform package. Central to this episode: why the EU is now opting for both a directive and a regulation – and what that means in practice.
Clearer rules to replace fragmented frameworks
With the new Payment Services Directive (PSD3) and accompanying Payment Services Regulation (PSR), the European Commission aims to reduce fraud, improve consumer protection, and promote Open Finance. Above all, the goal is to establish a truly harmonised EU market for payment services – moving beyond the national specifics that have so far hindered cross-border business models.
What changes in Germany?
The impact in Germany will be particularly far-reaching. Many provisions from the German ZAG and civil law regulations in the BGB – such as those on strong customer authentication and payment service contracts – will be replaced by the directly applicable PSR. As a result, the ZAG will be streamlined and sections 675c et seq. BGB will lose much of their relevance.
Looking ahead: What’s next in the series?
Upcoming episodes of the podcast will explore key questions in more depth:
- Who falls within the scope of PSD3 and PSR?
- What exceptions apply?
- How do PSD3 and MiCAR interact?
- What changes in liability and fraud protection?
We will keep you updated about DORA. Stay informed and subscribe to the PayTechLaw newsletter!
About this podcast
Alles Legal – Fintech Recht Kompakt delivers sharp, weekly insights into legal and compliance matters in the world of banking. (in German only)
This podcast is a collaboration between Payment & Banking and PayTechLaw.
Each Wednesday, we unpack the legal developments shaping the financial world – clearly, concisely, and without the legal jargon.
Since 2021, PayTechLaw authors and Annerton attorneys have brought depth and clarity to complex topics.
Whether it’s PSD3, DORA, or FiDA – we provide the legal context you need.
In 20 minutes. No detours.
