Payment services and electronic money services in the Internal Market
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Provisional agreement reached, awaiting formal adoption by Parliament and Council.
Last active 05 May 2026
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What this bill does
In plain terms: what it changes and who it affects.
This proposal updates EU licensing and supervision rules for payment and electronic money providers and improves their access to payment systems and safeguarding options.
Who it affects
It affects payment institutions, electronic money providers, fintech payment firms, independent ATM operators, retailers offering cash withdrawals, and users of payment and e-money services across the EU.
Core of the proposal
- Merges payment institution and electronic money institution licensing into one regime, while keeping specific e-money rules.
- Updates capital, own-funds, governance, safeguarding and authorisation requirements for payment institutions.
- Allows payment institutions direct access to designated payment systems by amending the Settlement Finality Directive.
- Creates lighter registration regimes for account information providers and independent ATM deployers.
Key provisions
- Takes effect
- It enters into force 20 days after Official Journal publication; national measures apply 18 months later, except SFD amendments after 6 months.
- Transitional law
- Existing payment and electronic money institution licences are grandfathered until 30 months after entry into force if reauthorisation is sought within 24 months.
Articles changed · 4 across 4 laws
- Directive 98/26/EC (31998L0026)
- art. 2: replaces points (b) and (f)
- Directive (EU) 2020/1828 (32020L1828)
- art. Annex I: adds new point (68)
- Directive (EU) 2015/2366 (32015L2366)
- entire act: repeals the entire directive
- Directive 2009/110/EC (32009L0110)
- entire act: repeals the entire directive
Latest update
09 Jun 2026The most recent development in this bill's progress.
1st reading – Council of the EU → Trilogues (interinstitutional negotiations)
1st reading – Council of the EU → Trilogues (interinstitutional negotiations)
Documents
1 recentSourcesOEILEUR-LexEU Law Tracker