Payment Services Regulation – key points for consumers

Payments are part of consumers’ everyday lives – whether paying with cash, cards, mobile apps, or online. As payments become increasingly digital, they bring convenience but also new risks, especially fraud. Consumers currently bear 86% of losses from fraudulent credit transfers, as existing rules under the Payment Services Directive no longer cover how fraud happens today. The new PSR needs to ensure a fairer share of liability to better protect consumers.

This two-pager summarises BEUC’s main recommendations for trilogue negotiations between the European Parliament and the Council on the Commission’s proposed Payment Services Regulation (PSR). BEUC’s position paper can be found here.