502. Deputy Pearse Doherty asked the Minister for Finance the progress on the Payment Services Directive and Regulation; Ireland’s position on these discussions; and if he will make a statement on the matter. [59385/25]

The European Commission published proposals for a Payment Services Directive (PSD3) and a Payment Services Regulation (PSR) in June 2023 following a review of the current Payment Services Directive (PSD2). The package sets out to address areas of weakness with PSD2, particularly regarding protections against authorised push payment fraud (APP), low open banking take-up, and a lack of harmonisation in how Member States transposed PSD2.

The Polish Council Presidency produced a general approach on PSD3 and PSR which was agreed to by Member States at a COREPER II meeting on June 18th 2025. Under the Danish Presidency PSD3/PSR has progressed to Trilogue negotiation stage. The Danish Presidency is aiming to reach political agreement by the end of their term. Co-legislators are working through a variety of drafting differences with the aim of reaching a political agreement as soon as possible.

Ireland is supportive of the Council general approach reached under the Polish Council Presidency. Ireland made extensive contributions to Council working party discussions, in particular on the topic of payment fraud prevention via a non-paper which proposed several measures aimed at better preventing payment fraud. Ireland remains optimistic that political agreement can be reached under the Danish Council Presidency.