European Union: Opened consultation on review of second EU Payment Services Directive

On 10 May 2022, the European Commission launched a public consultation for the review of the second EU Payment Services Directive (PSD2). The key aim of the PDS2 is to establish connected European payments system and open the market to increased competition. Furthermore, the review of the PSD2 intends to facilitate the integration of new payment methods, such as wallets, account-to-account, smartwatch and crypto-assets (including stablecoins). The goal of the consultation is to gather information on the application and impact of PSD2, especially regarding the payment market and user needs.