{"id":12838,"date":"2019-05-28T06:39:48","date_gmt":"2019-05-28T06:39:48","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=12838"},"modified":"2019-05-28T06:39:48","modified_gmt":"2019-05-28T06:39:48","slug":"psd2-a-brief-overview","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/psd2-a-brief-overview\/","title":{"rendered":"PSD2: a brief overview"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">As the Second Payment Services Directive (PSD2) becomes the new reality across Europe, here are the main changes it is driving:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">External payment service providers are now better defined and regulated. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Legal entities applying for a license as a payment organization will have to provide increased documentation describing their payment security measures.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">More detailed procedures for certification were included to ensure more effective communication and information exchange between EU member states.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The PSD2 directive aims to strengthen consumer rights and protection from unfair business practices.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Measures to ensure the security of payment and other data were included to protect consumer information. These measures include multi-factor client identify procedures, dynamic operation confirmation codes, personalized client access and security incident reporting.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">PSD2 clearly outlines the responsibilities of each party in the transfer process.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The PSD2 directive prohibits trade and service enterprises from charging customers an additional charge for using credit or debit cards and payment services based on payment orders or payment requests.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Finally, PSD2 assigns important roles to the European Banking Regulation and Supervision Agency (EBA). These include: ensuring consistent application and interpretation of the directive, enhancing consumer protection, increasing the transparency of payment organizations and improving the quality of interactions and information exchange between EU member states.<\/span><\/li>\n<\/ul>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-12838 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='BFC FinTech Monitor (13th August \u2014 19th September)'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/bfc-fintech-monitor-13th-august-19th-september\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2022\/09\/Fty9lP1-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-16839\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-16839'>\n\t\t\t\tBFC FinTech Monitor (13th August \u2014 19th September)\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Amazon partners with Bank of America for lend-tech leap'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/amazon-partners-with-bank-of-america-for-lend-tech-leap\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/05\/two-confident-business-man-shaking-hands-during-a-meeting-in-the-office-success-dealing-greeting-and-partner-concept_1423-185-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-9878\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-9878'>\n\t\t\t\tAmazon partners with Bank of America for lend-tech leap\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='UniCredit teams with FinDynamic to enhance invoicing service'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/unicredit-teams-with-findynamic-to-enhance-invoicing-service\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/07\/unicredit-teams-with-findynamic-to-enhance-invoicing-service-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-13315\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13315'>\n\t\t\t\tUniCredit teams with FinDynamic to enhance invoicing service\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>As the Second Payment Services Directive (PSD2) becomes the new reality across Europe, here are the main changes it is driving: External payment service providers are now better defined and regulated. Legal entities applying for a license as a payment organization will have to provide increased documentation describing their payment security measures. More detailed procedures &hellip;<\/p>\n","protected":false},"author":5,"featured_media":12897,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[198,10],"tags":[70,75],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/12838"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=12838"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/12838\/revisions"}],"predecessor-version":[{"id":12839,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/12838\/revisions\/12839"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/12897"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=12838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=12838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=12838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}