FBF’s Response to the EU’s Proposed Payment Services Regulation

The French Banking Federation welcomes the political agreement reached in trialogue on the proposed Payment Services Regulation, whereby online platforms are liable if they are informed of fraudulent content on their platform and fail to remove it. FBF regrets however that Payment Services Providers will have first to reimburse directly defrauded customers and then ask for reimbursement from online platforms.
Technical aspects must be examined carefully. These actors must demonstrate a strong operational commitment to fight against fraud and ensure the security and reliability of information and advertisements on their platforms.