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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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The EBA relents on PSD2 authentication, but is it enough?
The European Banking Authority says it will relax its proposed (preposterous) PSD2 rules on a requirement for strong customer authentication for all payments under €10, after receiving a huge number of complaints from industry participants who claimed that the mandate would lead to more declined transactions and abandoned purchases at the checkout. In a speech in London [...]
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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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Making PSD2 access to bank accounts work in practice
There is a massive trend in many industries for co-development of solutions. Apple does not develop all apps themselves but provide a platform for others. Amazon does not produce own books and electrical goods but provides the means for others to sell their wares. Now banks are looking not only to develop their own mobile [...]
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