The European Parliament's Committee on Economic and Monetary Affairs adopted the final compromise texts of both PSD3 and PSR on May 5. PSD3 passed with 55 votes in favor, 3 against, and 5 abstentions. Morten Lokkegaard of the Renew group served as rapporteur. PSR passed with 50 votes in favor, 2 against, and 2 abstentions. Rene Repasi of S&D led the PSR file.
The legislation replaces PSD2. Fraud liability shifts to payment service providers and platforms under the new rules. IBAN-name verification becomes mandatory for all SEPA credit transfers. The regulatory scope expands to cover certain crypto-asset service providers engaged in payment activities.
A full Parliament plenary vote is expected during the May 18-21 session. Official Journal publication is anticipated between June and September 2026, depending on the pace of legal-linguistic review. The new rules apply 21 months after publication, placing the earliest applicability date around March 2028.