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Understanding the PSD2 regulation – everything you wanted to know
The revised Payment Services Directive (PSD2 regulation) is set to bring payments in Europe to the next stage of development; it is a data and technology-driven Directive that aims to help develop a unified payment services sector that better fosters competition, innovation and security of internet payments and account access. In a new White Paper [...]
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FI’s unaware of customer account access obligations under PSD2
Only 5% of banks and other financial institutions are aware that the EU Payment Services Directive (PSD2) will require open access to customer accounts, according to a UK law firm TLT’s Digital Banking report. This is despite 67% stating that they were well prepared for PSD2. Post-Brexit, some UK banks may have been hoping to [...]
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Opportunities unlocked by revised PSD2
By 2020, more than 50% of all UK retail sales could be ecommerce and contactless, growing by more than 2.5 times from 18% currently. At least 30% of these will be mobile assisted. This has significant implications for banks and the roles of payment initiation services (PISP’s) and AISP’s – retailers want alternatives to the [...]
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PSD2 and MIF Regulation create opportunities in Europe
PAY.ON has published a new white paper that explores the implications surrounding – and the opportunities arising from – the revised Payment Services Directive (PSD2) and the Regulation on Multilateral Interchange Fees (MIF). PSD2 is part of the European Commission’s efforts to strengthen the internal EU market, and has far-reaching implications for card issuers, acquirers, [...]
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Preparing for PSD2: exploring the business and technology implications
The aims of the European Commission’s revised Payment Services Directive (PSD2) are clear. It is designed to enhance consumer protection and convenience, improve the security of payment services and promote innovation and competition. While these aims are simple to express, the implications of PSD2 for payments industry participants, both established and new, are wide-ranging and complex. [...]
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