What are risk assessments used for when providing payment services?

On the basis of the risk assessments, Payment Service Providers (<a href="/glossarycollection/payment-service-provider" style="color:#48277C;" target="_blank" title="Payment Service Provider"><u>PSP</u></a>) should determine whether and to what extent changes are necessary to the existing security measures, the technologies used and the procedures or payment services offered. PSPs should take into account the time required to implement the changes and the time to take appropriate interim security measures to minimise operational or security incidents, fraud and potential disruptive effects in the provision of payment services.