Open Banking Payment Initiation as a Prerequisite for European Strategic Autonomy: API Obstacles under PSD2 and the PSR
Open Banking Payment Initiation as a Prerequisite for European Strategic Autonomy: API Obstacles under PSD2 and the PSR

Summary/Abstract: This article examines the legal framework governing the Open Banking payment initiation under PSD2 in relation to European strategic autonomy in payments. The central thesis is that the persistent failure of dedicated bank APIs to comply with Article 32(3) RTS SCA represents not merely a regulatory compliance problem but a structural impediment to the third pillar of European payment sovereignty. The article connects two strands of scholarship that have developed in parallel: PSD2 enforcement and European payment sovereignty. The methodology is doctrinal legal analysis; enforcement actions of the Czech and Slovak national banks serve as case studies. The analysis establishes that the legal standard has been clear since 2019 and that non-compliant API practices reflect an enforcement deficit rather than regulatory ambiguity. The PSR consolidates existing obligations into directly applicable law. The article identifies three areas of further regulatory development to close remaining gaps.

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