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The Revised Payment Services Directive (PSD2, Directive (EU) 2015/2366, which replaced the Payment Services Directive (PSD), Directive 2007/64/EC) is an EU Directive, administered by the European Commission (Directorate General Internal Market) to regulate payment services and payment service providers throughout the ...

A short overview of how the PSD2 fosters innovation, consumer protection and security Rules for third-party payment service providers. ... Clarification of liability regime. ... Enhanced consumer protection. ... No surcharges on payments covered by the Interchange Fee Regulation. ... Increased security for payment services.

While PSD1 only applies to intra-EU payments, PSD2 extends a number of obligations, notably information obligations, to payments to and from third countries, where one of the payment service providers is located in the European Union.

Put simply, Payment Services Directive Two (PSD2) is a piece of legislation designed to force providers of payment services to improve customer authentication processes and to also bring in new regulation around third-party involvement.

Put simply, Payment Services Directive Two (PSD2) is a piece of legislation designed to force providers of payment services to improve customer authentication processes and to also bring in new regulation around third-party involvement.

PSD2-compliance checklist Set up a Consumer Identity and Access Management (IAM or CIAM) solution. Strong Customer Authentication (multi-factor and continuous authentication) Create APIs to access transactional payment data that support: Fine-grained access control. Real-time access. Provide Access to Account (XS2A)

RPS. PSD2 includes: definition of payments services, providers and activities, as well as rights and obligations of payments providers. requirements for banks to provide account information and payment initiation by third-party providers (TPPs)

PSD2 requires banks to implement multi-factor authentication for all proximity and remote transactions performed on any channel to protect the consumer. This obligation means using two of these three features: Knowledge: Something only the user knows, e.g., password, code, personal identification number.