The European Central bank has postponed a deadline for allowing non-bank payment service providers (PSPs) to access central bank-operated payment systems, including the Target settlement system, according to Finextra.
The ECB says the six-month postponement is due to delays in some EU areas countries in transposing the necessary legislative changes into law.
Initially set for introdcution in April, the new Eurosystem policy follows the enactment of the Instant Payments Regulation, which amended the Settlement Finality Directive to broaden the scope of participation in designated payment systems to include non-bank PSPs.
„The amendment to the Target Guideline…is now expected to enter into force in October 2025,” states the ECB. „The Eurosystem considers this postponement necessary to avoid legal risks concerning the eligibility of non-bank PSPs to access Target, including T2 (for settling payments) and TIPS (for settling instant retail payments).”
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
