What is PSD2?
Definition of PSD2
The second Payment Services Directive (commonly referred to as PSD2) is a 2015 revision of the European Union’s original Payment Services Directive. This legislation took effect in January 2018.
PSD2 legislation is intended to make banking data more transparent to consumers and expands on the following areas of the Payment Services Directive:
- improving security using Strong Customer Authentication
- advancing consumer rights
- enabling third-party account and payment services such as AISPs and PISPs to access customer account information