Open Banking

Emerging payments rails that are often rivals to legacy systems such as the interchange, and that facilitate integration between banking and payments apps offered by many different providers.

EUROPEAN COMMISSION INTRODUCES PSD3/PSR TO ADVANCE OPEN BANKING

In this white paper, TINK (a Visa company) explains how PSD3/PSR is a welcome addition to the development of open banking in Europe. PSR should address standardization issues and past problems with APIs. The requirements should be passed before the summer of 2024 with enforcement happening by the end of 2025.

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