You can watch how beautiful tropical fish live underwater.

In practice, this will lead to more innovative financial products and services for users and will stimulate competition in the financial sector.In this series of games, you will encounter incredible underwater life. This framework will establish clear rights and obligations to manage customer data sharing in the financial sector beyond payment accounts. The Commission is also putting forward a legislative proposal for a framework for financial data access. Whilst safeguarding their rights, it also aims to provide greater choice of payment service providers on the market. These will ensure consumers can continue to safely and securely make electronic payments and transactions in the EU, domestically or cross-border, in euro and non-euro. The Commission’s proposes to a mend and modernise the current Payment Services Directive (PSD2) which will become PSD3 and establish, in addition, a Payment Services Regulation (PSR). That is why the Commission has today proposed two sets of measures. In response to these developments, today’s package seeks to ensure the EU’s financial sector is fit for purpose and capable of adapting to the ongoing digital transformation, and the risks and opportunities it presents – in particular for consumers. More sophisticated types of fraud have also emerged, putting consumers at risk and affecting trust.

securely sharing financial data between banks and financial technology firms (‘fintechs’). New providers, enabled by digital technologies, have entered the market, in particular providing ‘ open banking’ services – i.e. This trend was accelerated by the COVID-19 pandemic. Electronic payments in the EU have been constantly growing, reaching €240 trillion in value in 2021 (compared with €184.2 trillion in 2017). The payment services market has changed significantly in recent years. These proposals place consumers’ interests, competition, security and trust at their centre. These rules will further improve consumer protection and competition in electronic payments, and will empower consumers to share their data in a secure way so that they can get a wider range of better and cheaper financial products and services. The European Commission is putting forward proposals to bring payments and the wider financial sector into the digital age.

Download fishdom data plan