On Wednesday 12 July, the Spanish Presidency of the EU Council submitted a document to the EU Member States asking them for their views on the “significant changes” proposed by the Commission as part of the upcoming revised ‘PSD3’ directive on payment services (see EUROPE 13211/15).
Member States are invited to identify the changes envisaged that should be prioritised for discussion, as well as any aspects that have not been changed but which they feel should be.
The Spanish Presidency of the Council expressed the view that, of the 20 or so points that have been amended in the Commission’s proposal, discussions could begin on the question of the definitions of transactions initiated by retailers and those of mail order or telephone sales, or on the exclusion from the scope of ‘cashback’ and ‘cash-in-shop’ business models, which allow cash to be withdrawn when a bank card transaction takes place at a retailer’s premises.
In addition, Member States should consider strengthening the right of payment institutions – and electronic money institutions – to open and manage a bank account or allowing them direct access to payment systems.
Further discussions are expected on aligning the future text with the clarifications provided by the European Data Protection Board (EDPB) on the interaction between the previous ‘PSD2’ directive and the General Data Protection Regulation (GDPR).
Initial discussions within the EU Council could also focus on the introduction, by the European Banking Authority and the competent authorities, of powers to intervene on products in the context of payment services or on the issue of consumer protection.
On this point, the Spanish Presidency proposes, for example, that the Member States determine whether the obligation for authorised payment service providers to provide payment service users with a dashboard, integrated into their user interface, to monitor and manage the authorisations they have given for account information services should be one of the priorities during the discussions. (Original version in French by Thomas Mangin)