Newsletter 4-2025

In the fourth quarter of 2025, the payment policy landscape was shaped by the Council and European Parliament reaching a landmark agreement on the Payment Services Package (PSR/PSD3), introducing stronger fraud protections, enhanced consumer rights, and improved open banking rules, with finalisation expected in early 2026. In response, the Computer & Communications Industry Association (CCIA) criticised the fraud-liability rules, warning they could enable criminal activity and conflict with the Digital Services Act. The European Central (ECB) and the European Bank Authority (EBA) then published a report highlighting €4.2 billion in payment fraud across the EEA in 2024, confirming the effectiveness of Strong Customer Authentication while noting emerging risks.

On the digital euro, ECB executive board member Piero Cipollone highlighted Europe’s dependence on card payments in an interview, presenting the digital euro as a strategic tool to strengthen financial sovereignty. The ECB completed the preparation phase of the digital euro, with technical readiness and a potential pilot scheduled for 2027. Under the Danish Presidency, the Council advanced discussions on the digital euro’s business model, while the European Parliament’s ECON Committee finalised amendments, showing broad support alongside some scepticism.

Looking ahead, the incoming Cypriot Presidency will focus on finalising PSR/PSD3 technical negotiations, while the Commission publishes its 2026 Work Programme.

Thank you for reading and subscribing to our newsletter. It is also available in Swedish. If more people in your organization are interested in staying updated on the payments industry, we’d be happy to add them as subscribers. You can find this and previously published newsletters, together with our consultation responses, on our website.

Access the full newsletter: CPS Newsletter Q4 2025(ENG)_Final, or the version in Swedish: CPS Nyhetsbrev Q4 2025(SWE)_Skarp 

With that, I wish you and your loved ones a merry and happy holiday season and a great start to the new year. I look forward to staying connected with you in the coming year.

Michael Hoffmann
MANAGING DIRECTOR/CEO/VD