Compliance for Mobile Devices

PSD2

What is it ?

Revised Payment Services Directive 2 : is the new European regulation for electronic payment services which replaced the Payment Services Directive. It progressively began entering into force between January 13, 2018 and September 14, 2019 and drives fundamental changes in the industry as it gives non-banking third party players access to bank infrastructure

It’s purpose ?

PSD2 seeks to improve consumer protection, boost competition and innovation and reinforce security in the payments market.

Biggest changes ?

An important element of PSD2 is the requirement for Strong Customer Authentication (SCA). It involves the use of two authentication factors for bank operations including payments and access to accounts online or via apps.