Overview
Requires all EU payment service providers to offer instant euro transfers at the same or lower price than regular transfers. Includes mandatory Verification of Payee (IBAN-name check).
Note: Enhances PIS use cases. VoP reduces payment fraud risks.
Applicable Countries
This regulation applies to all 27 EU Member States:
Scope & Coverage
This regulation covers the following areas and services:
Key Requirements
Timeline
Official Resources
Related Regulations
Other Europe regulations you might be interested in:
PSD2
European Union
The revised Payment Services Directive requires banks to provide account access to licensed third-pa...
PSD3
European Union
The proposed third Payment Services Directive aims to address shortcomings of PSD2, improve API perf...
FIDA
European Union
FIDA extends open banking principles beyond payment accounts to a wider range of financial products ...
Need to integrate with Open Banking APIs?
Explore our directory of API aggregators and TPPs to accelerate your compliance.