> For one, this rule caused a lot of friction as many banks and payment processing systems weren’t ready for it by the time it came into force. This despite it being announced over two years before it came into effect and a 6-month extension on the enforcement date!
Probably they hoped that the law got overturned by a change of government or because of lobbying/bribery... why invest in change when there's still a possibility of it being unneeded?
A change in Government isn't due for at least three more years - and even then, it's unlikely, as the ruling party hasn't really lost their popularity. I think you're right in that they were hoping for changes, but maybe through an internal process or something like that which didn't work out as expected.
Probably they hoped that the law got overturned by a change of government or because of lobbying/bribery... why invest in change when there's still a possibility of it being unneeded?