WG-REQ-1516 Word-to-A4-PPT-portrait PSD3 IMPACTS-STAGE-3 PRINT3mmBLEED - Flipbook - Page 11
HL | PSD3 Impacts
7 Access for PSPs
to payment systems
and services
(PSR Arts 31332)
Overview
§
The detailed access requirements are now
addressed in the proposed PSR, and so
will have direct effect, which should limit
the scope for divergence between
Member States.
§
Grounds for refusing access to payment
services are significantly limited.
§
The proposed PSR requires increased
transparency around the
requirements/assessment process for
access to payment systems.
What is changing?
The proposed PSR clarifies the requirements
around access to payment systems and seeks to
level the playing field even further:
§ where the applicant presents an excessive risk
profile or a disproportionately high
compliance cost for the credit institution.
§ In addition to being objective, nondiscriminatory, and proportionate, rules must
be transparent and can be imposed to guard
against credit and liquidity as well as other
risks (such as settlement or business risk).
The proposed PSR changes the process of refusal
too, with notice being required to go to the
applicant, who can then appeal to the NCA as a
court of appeal.
§ The rules and procedures for admission to the
payment system, as well as the criteria and the
methodology used for the risk assessment of
applicants must be publicly available.
§ A system operator can only refuse access
where an applicant poses risks to the system.
The proposed PSR goes somewhat further in the
changes it makes to the rules requiring ASPSPs to
provide access to payment accounts.
Access requirements will be extended to agents
and distributors (to conduct payment services on
behalf of APIs) and to entities applying for
authorisation under PSD3.
The proposed PSR also seeks to limit the grounds
on which an ASPSP can refuse or withdraw
services, restricting such reasons to:
§ where there are serious grounds to suspect
defective AML controls or illegality by the
applicant or its customers;
§ breach of contract;
§ failure to provide insufficient information
when applying to open account; and
The EP Text softens this slightly, reverting to
