On 10 May 2022, the European Commission launched a public consultation to gather evidence for the revised Payment Services Directive (PSD2) review and to inform its work on open finance. The Commission is seeking to identify whether the PSD2 has achieved its objectives and whether amendments are needed to ensure that its rules remain relevant. It is also seeking views on the broader concept of “open finance”, which could cover a range of financial services, such as investment in securities, pensions, and insurance. The deadline for comments on the consultation is 2 August 2022. The Commission will report this year on the application and impact of PSD2, as announced in the retail payments strategy of September 2020.
