PSD2

The European Data Protection Board (EDPB) adopted Statement 2/2024, addressing the European Commission’s proposals for Financial Data Access (FIDA), Payment Service Regulation (PSR), and Payment Service Directive (PSD3). The EDPB highlights the need for clear rules on recording and disclosing personal data, defines obligations for Account Information Service Providers (AISPs) and Payment Initiation Service Providers (PISPs), and emphasizes data protection, transparency, and minimization. Key recommendations include robust safeguards in transaction monitoring, defining ‘permission’ distinct from GDPR consent, and enhancing cooperation among supervisory authorities.