PSD3
PSD3 (Payment Services Directive 3) is the EU successor to PSD2, rolled out from 2025-2026, tightening open-banking rules and extending them to crypto services.
PSD3 builds on PSD2 (2018) and addresses gaps exposed by six years of practice: better API standardisation between banks, clearer fraud-liability, stricter SCA rules, and extension to new players (crypto, BNPL). Alongside it, the Payment Services Regulation (PSR) lifts some parts of the directive to a directly applicable regulation — less room for member-state interpretation.
Example
An aggregator (Tink, Plaid Europe) had to get separate licences per EU country under PSD2. Under PSD3 + PSR this centralises: one passport, uniform API specs, better SLAs from banks. Fintech time-to-market drops significantly.
Frequently asked questions
When does PSD3 take full effect?
The directive was adopted in 2024; member states implement from 2025-2026. Full EU-wide application expected in 2027. Fintechs with existing PSD2 licences get a transition period.
Related terms
Further reading
- → Our service: Fintech sector