Banking & Fintech

Obstacles of access to PIS and AIS services are to be removed

The European Banking Authority (EBA) published an Opinion on supervisory actions national competent authorities (NCAs) should take to ensure banks remove any remaining obstacles that prevent third party providers from accessing payment accounts, which restrict EU consumers’ choice of payment services. The Opinion is destined to equal the chances of EU members as well as to contribute to application and supervision of relevant requirements under the Payment Services Directive (PSD2) and the EBA Regulatory Technical Standards on strong customer authentication and common and secure communication (RTS on SCA&CSC).

In the light of the Opinion NCAs should see to the removal of obstacles the interfaces of account servicing payment service providers (ASPSPs).

ASPSPs actions shall be investigated by NCA’s and if some obstacles have not been removed, they should take supervisory actions by 30 April 2021.

The EBA takes the position to impose harsher and more effective supervisory measures to ensure compliance with the applicable law, including, but not limited to, by revoking exemptions from the contingency mechanism already granted to ASPSPs and/or by imposing fines.

To the sake of clarity PSD2, applicable since 13 January 2018, requires ASPSPs to establish the access interfaces through which third party providers can access the customers’ payment accounts in a secure manner. ASPSPs are required under separate provisions that have implemented a dedicated interface to ensure that the latter does not create obstacles to the provision of payment initiation and account information services.

In an Opinion published on 4 June 2020, the EBA identified a number of practices that are obstacles to the provision of third party provider services under the PSD2, which are, therefore, a breach of law and that have to be removed by ASPSPs. The Readers should be reminded that PIS and AIS services are also regulated under Polish Payment Services Act by way of PSD2 implementation.

Author team leader DKP Legal Piotr Glapiński
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