Topic Legislation
EU PSD3 and Payment Services Regulation
The EU's revised payment services package, including fraud and strong customer authentication provisions. Council and Parliament reached a provisional deal on November 27, 2025.
Also called: PSD3, EU PSR, strong customer authentication, SCA
- Official site
- consilium.europa.eu
Questions (1) #
- Which countries are banning SMS OTP for banking?Regulation
Singapore, Malaysia, the UAE and the Philippines have ordered banks off SMS or email codes for some or all transactions since 2022.
In the regulation tracker #
- European Union: PSR / PSD3 fraud and SCA package (Pending)
Glossary #
- Strong customer authentication (SCA)
- The requirement in EU payments law that customers authenticate with at least two independent factors from knowledge, possession and inherence for most electronic payments and account access.
This hub has fewer than two answers, so it is kept out of search indexes until more are added.