The European Banking Authority (EBA) launched today a public consultation on Guidelines to clarify a number of issues identified by market participants and competent authorities in relation to the four conditions to be met to benefit from an exemption from the fallback option envisaged under Article 33(6) of Regulation (EU) 2018/389 on strong customer authentication and common and secure communication, which will apply from 14 September 2019. The EBA aims at providing assistance to market participants and competent authorities for a smooth, transparent and consistent implementation of the RTS on SCA and CSC. These Guidelines should be read along with the Opinion on the implementation of the RTS on SCA and CSC, which was also published today. The consultation runs until 13 August 2018.
Given the cross-border nature of retail payments, the EBA and Competent Authorities have a shared interest in supporting the objectives of PSD2 of contributing to a single EU payments market, ensuring that these issues are addressed consistently across the EU and that the implementation period proceeds smoothly and transparently across the EU.
Article 33(6) of the RTS, sets out the four conditions that an account servicing payment service provider (ASPSP) must meet when it wishes to provide access via a dedicated interface to be granted an exemption from the obligation to have a fallback option in place. Article 33(6) also requires Competent Authorities to consult with the EBA before granting such an exemption. The Consultation Paper on draft Guidelines provides clarity to the market and to Competent Authorities on the information to be considered for each of the four conditions in order to determine whether a request for the exemption meets the conditions in Article 33(6) of the RTS. In particular, the draft Guidelines aim at providing clarity for all parties involved in the assessment process (ASPSPs, Competent Authorities and the EBA) and also allow Competent Authorities to carry out a speedy assessment especially during the time when the bulk of the exemption requests will be received.
The requirements proposed in this consultation paper provide clarity on service level, availability and performance of the interface that the ASPSP needs to have in place, the publication of the performance indicators, the stress testing to be carried out, obstacles to accessing payment accounts, the design and testing of the interfaces to the satisfaction of payment services providers, the wide usage of the interface, the resolution of problems, and the consultation by Competent Authorities with the EBA.
Responses to this consultation can be sent to the EBA by clicking on the "send your comments"
button on the consultation page. Please note that the deadline for the submission of comments is 13 August 2018.
All contributions received will be published following the close of the consultation, unless requested otherwise. A public hearing will then take place at the EBA premises on 25 July 2018 from 14.00 to 16.00 UK time.
Legal basis and background
The EBA has drafted the consultation paper on the draft Guidelines in accordance with Article 16 of its Regulation (EU) No 1093/2010 of the European Parliament and of the Council, which mandates the Authority to issue guidelines and recommendations addressed to Competent Authorities or financial institutions with a view to establishing consistent, efficient and effective supervisory practices, including, where appropriate, to conduct open public consultations.