Legislative position
The package is close to adoption and the current framework still applies
Parliament and Council negotiators reached a provisional agreement on PSD3 and PSR on 27 November 2025. The Council's permanent representatives confirmed the final compromise texts in April 2026, and Parliament's ECON committee approved the agreed text on 5 May. The European Parliament's June legislative tracker classifies the package as close to adoption.
Formal adoption by the co-legislators and publication still need to occur. Until then, businesses continue to operate under PSD2, the Electronic Money Directive and the national laws that implement them. The final application and transition dates should be taken from the adopted texts, not estimated from the current stage.
Commercial themes
The agreed package points to four operating priorities
Fraud controls
The package strengthens prevention, payee checks, customer protections and the allocation of loss in defined scenarios.
Open banking
Rules are intended to reduce access obstacles and give customers clearer control over permissions to their account data.
Bank-account access
The agreed direction supports non-discriminatory access to payment accounts for payment institutions.
Authorisation framework
PSD3 updates the institutional and supervisory framework, while PSR moves common conduct rules into a directly applicable regulation.
Business impact
Build the implementation inventory around today's operating model
Payment institutions and EMIs can map the agreed themes to existing controls now: fraud prevention, customer authentication, open-banking interfaces, account-access dependencies, permissions, agents and passporting. The objective is to identify systems, contracts and policies that may need work once final dates and technical standards are available.
Transaction teams should keep the same distinction. A target is valued and diligenced against its current permission and compliance position, while the PSD3 and PSR readiness plan is treated as a forward implementation workstream. This makes the future cost visible without presenting pending rules as an authority the target already holds.
SKY7 view
Use the agreed text as a planning baseline, with assumptions labelled
The package is far enough advanced to support gap analysis, budget ownership and architecture decisions. It is not yet the point to state a definitive national transition calendar or promise how an existing status will be treated in every Member State.
A useful programme separates stable decisions from open ones. Firms can document their present authorisation, product and control inventory now, assign owners for the main reform themes and maintain an assumptions log for final adoption, application dates and national implementation. That approach protects delivery momentum while keeping the programme accurate.
Related SKY7 analysis
Apply the update to live payment routes
Primary evidence
Official sources
- European Parliament legislative train for PSD3
- European Parliament announcement of the PSD3 and PSR agreement
- Council confirmation of the final compromise text
Sources checked .