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PSD2 in a nutshell

An in-depth look at the new Directive

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 evolution of the payment market in the Czech Republic

PSD2 supports the change

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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New services for a new customer experience

Payment initiation
Innovative payment services for merchants, alternative to cards

iniciace plateb PSD2

Cardless withdrawal
Withdrawal via NFC technology on different accounts and comparison of the commissions applied

Instant and P2P payments
Instantaneous payments via mobile wallet on many p2p accounts and towards operators with advanced features

Instant and P2P payments
Instantaneous payments via mobile wallet on many p2p accounts and towards operators with advanced features
Instant and P2P payments
Instantaneous payments via mobile wallet on many p2p accounts and towards operators with advanced features

Advanced app (account aggregation, money exchange)
Access to information through a single touchpoint / app integrated and aggregated monitoring of accounts and expenses

Couponing
Geolocation and integration of offers, discounts, coupons, conventions

Decoupled cards
White-label cards offering decoupled from payment accounts

Quick assessment

A first assessment phase allows the anticipation of the market, develop strategic opportunities and prevent any possible issue due to regulatory and business developments.

Scope definition

  • scope definition of services, products, processes and applications affected
  • Regulatory interpretation of PSD2

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Gap and impacts analysis

  • High level gap analysis with regard to the requirements previously covered by PSD and on local regulations considering legal, IT, processes, and business areas
  • Qualitative detection of the impacts of each area with the details about the critical gaps actors/organisational structures involved and of the impact level (high, medium, low)

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Opportunity analysis

  • Access to international surveys and comparison with market benchmarks at EU level
  • First analysis of new business opportunities/services to be developed and estimate at an economic level

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Activities to address

  • Macro definition of an action plan with prior estimate of timeline and effort
  • Addressing critical issues with workgroups and industry associations

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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.

Contacts

Martin Huňka

Martin Huňka

Technology Consulting

Tel: +420 724 037 275

Dalibor Hála

Dalibor Hála

Advisory services

Tel: +420 604 370 829

Contact us

Are you interested in our services? Let us know and we will gladly get back to you and discuss how we can help you.

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Contacts

Petr  Ložek

Petr Ložek

Lead Partner, Technology Consulting, PwC Czech Republic

Tel: +420 724 258 609

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