What is PSD2?

PSD2 is the second Payment Services Directive, designed by the countries of the European Union.

It will give consumers more and better choices in the EU retail payment market. At the same time, it will introduce higher security standards for online payments. This will make consumers more confident when buying online. PSD2 scope extends to innovative payment services and new providers in the market, such as FinTechs. These players are also called third party payment services providers (TPPs).

For more information, please refer to Payment Services Directive (PSD2): Regulatory Technical Standards (RTS) enabling consumers to benefit from safer and more innovative electronic payments