Market environment and implementation timeline
PSD2 in a nutshell 1
PSD2 in a nutshell 1
PSD2 in a nutshell 2
PSD2 in a nutshell 3
PSD2 in a nutshell 4
PSD2 in a nutshell 5
The primary goal of the Directive is to create a single integrated market for payment services through standardising the regulation for banks and for new PSPs, which are coming up due to the digital era. The PSD2 will break down the entry barriers helping to strengthen the system security, enabling new payment services, ensuring transparency and fair competition to the benefit of consumers.
The new legislative framework introduces significant innovation in the area of legal and compliance, technology and security, and it defines new roles and services in the payments market.
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Regulatory scope extension both for one leg operations and for non-EU currencies transactions. Introduction of new payment services (Payment Initiation, Account Information, Funds Checking).
Introduction of new market players called Third Party Payment Service Providers (TPP), namely the Payment Initiation Service Provider (PISP) and Account Information Service Provider (AISP).
Extension of the regulation on responsibilities for TPP and reduction of the quantitative responsibility threshold at the expenses of the payers.
Safety requirements and the harmonisation of the authentication procedures (Strong Customer Authentication) become mandatory.
Extension of the share pricing principle and alignment of the additional fees application, in line with the new MIF regulation.
Editing of the exceptions granted to: (i) commercial agents; (ii) Networks Limited marketability; (ìii) Operators telco; (iv) independent ATM.
Innovative payment services for merchants, alternative
Advanced app (account aggregation, money exchange)
Access to information through a single touchpoint / app integrated and aggregated monitoring of accounts and expenses
Withdrawal via NFC technology on different accounts and comparison of the commissions applied
Geolocation and integration of offers, discounts, coupons, conventions
Instant e P2P payments
Instantaneous payments via mobile wallet on many p2p accounts and towards operators with advanced features
White-label cards offering decoupled from payment
A first assessment phase allows the anticipation of the market, develop strategic opportunities and prevent any possible issue due to regulatory and business developments.
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We also guarantee a comprehensive support and continuous dialogue with the network and the market, on-going monitoring of regulatory updates, mailing of periodic newsletter containing legal interpretations, providing our clients with a dedicated team of professionals with multidisciplinary and fully integrated skills.