Payments, open finance and the digital euro

It’s been a busy day at the European Commission! First, two proposals that aim to bring payments and the wider financial sector into the digital age were adopted. The new rules will create new opportunities for EU consumers and businesses by modernising payment services through the revision of the current Payment Services Directive PSD2 and opening financial services data by establishing a Financial Data Access Framework. Second, a proposal setting out a legal framework to regulate the essential elements of a possible digital form of the euro, while ensuring that individuals and businesses can continue to access and pay with euro banknotes and coins across the Euro area.