Legal setbacks postpone eurozone payment reform for non-bank providers

Amendments to TARGET Guideline postponed

On 15 May 2025, the European Central Bank (ECB) announced that the amendment to the TARGET Guideline, which would allow non-bank payment service providers (non-bank PSPs) to participate in TARGET is postponed. The amendment to the TARGET Guideline was outlined in ECB Decision ECB/2025/2 and is now expected to enter into force in October 2025. The Eurosystem considers this postponement necessary to avoid legal risks concerning the eligibility of …

ECB Delays Non-Bank PSP Access to TARGET Payment System ECB Delays Non-Bank PSP Access to TARGET Payment System

The European Central Bank postpones the deadline for non-bank payment service providers to access TARGET, citing legal and regulatory challenges Highlights: Regulatory Hurdles: The ECB postponed the deadline due to delays in legislative changes across EU member states. New Timeline: The amendment to the TARGET Guideline is now expected to take effect in October 2025. Market Impact: The delay affects non-bank PSPs seeking direct access to centra…

Legal setbacks postpone eurozone payment reform for non-bank providers

The European Central Bank (ECB) has announced a delay to the planned amendment of the TARGET Guideline, pushing back the timeline for allowing non-bank payment service providers (non-bank PSPs) to access TARGET, the eurozone’s key payment infrastructure. Initially outlined in Decision ECB/2025/2, the amendment was set to extend TARGET participation rights to non-bank PSPs. However, the implementation has now been postponed until October 2025 due…