This move aims to enhance competition and innovation in the European payments landscape by creating equal opportunities between traditional banks and non-bank PSPs.

The Decision:

• outlines when a Eurosystem central bank should provide access to its central bank operated payment systems for a non-bank PSP;
• prohibits Eurosystem central banks from offering or providing safeguarding accounts to non-bank PSPs or to crypto-asset services providers;
• lays out the maximum holding amounts by a non-bank PSP; and
• sets out penalties in relation to non-compliance with the maximum holding amount limit or the requirements for access to central bank operated payment systems.

The Decision aims to reflect the ECB's stated commitment to fostering a diverse and competitive financial environment, ultimately benefiting consumers and businesses with more choices and improved payment services.

The Decision (EU) 2025/222 of the European Central Bank will apply from 9 April 2025 and can be accessed here.