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Creating an integrated European market for Payment Initiation Services
The revised Payment Services Directive (PSD2) was adopted with payment innovation and safety to the fore. One of its purposes is to regulate at the European Union (EU) level practices and players currently unregulated in the EU. Among other things, PSD2 regulates the role of Payment Initiation Services (PIS) providers (PISPs). PISPs facilitate the use of online banking to [...]
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The EBA is wrong about screen scraping — and it’s going to hurt European FinTech!
On 23 February, the European Banking Authority (EBA) announced its intention to outlaw screen scraping in one of their Regulatory Technical Standards (RTS) complementing the revised Payment Services Directive (PSD2), set to come into force in January 2018. Screen scraping sounds sinister. In fact, it simply refers to the practice of automating any internet browsing [...]
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Infograph: PSD2 explained – why was the Payment Services Directive created
In less than a year the revised Payment Services Directive (PSD2) will be implemented in European Union (EU) Member States. The Second Payment Services Directive (PSD2) is a fundamental piece of payments-related legislation in Europe, which entered into force in January 2016. PSD2 is the product of a review of the original Payment Services Directive and [...]
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How can API standardisation be achieved in the context of PSD2?
In less than a year the revised Payment Services Directive (PSD2) will be implemented in European Union (EU) Member States, and the acronym ‘API’ is on the minds of Payment Service Provider (PSP) professionals. Application Programming Interfaces (APIs) are considered key to the implementation of PSD2, the main goal of which is to create a [...]
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Visa hits out at EBA plans for strong customer authentication set to ruin UK e-commerce market
The European Banking Authority (EBA) has brought forward proposals for how it will implement what is called strong customer authentication (SCA). Visa has warned that new European rules on e-commerce threaten to seriously disrupt online shopping and cause inconvenience for consumers. The plans include a “one size fits all” approach where every online transaction over [...]
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