The European Banking Authority (EBA) today published a follow-up to the 2023 Peer Review Report assessing progress in the authorisation of payment institutions and electronic money institutions under the revised Payment Services Directive (PSD2). While notable improvements and increased convergence have been observed, significant differences persist in key areas such as governance, internal control mechanisms, and local substance. These divergent implementations continue to pose risks of regulatory arbitrage and an uneven playing field across Member States.
