PSD2

Payment Services Directive 2

ActivePayment ServicesEurope
🌍
Jurisdiction
European Union
📅
Effective Date
2018
Jan 13, 2018
✅
Full Compliance
2019
Sep 14, 2019
🏛️
Regulator
European Banking Authority

Overview

The revised Payment Services Directive requires banks to provide account access to licensed third-party providers (TPPs) via secure APIs. It introduced Strong Customer Authentication (SCA) and created new payment institution categories (AISPs, PISPs, CBPIIs).

Scope & Coverage

AISPISCBPII

Key Requirements

1
Open APIs for account access
2
Strong Customer Authentication (SCA)
3
Third-party provider licensing
4
Consumer protection measures

Implementation Timeline

Nov 25, 2015
Council of the European Union passed PSD2
Jan 13, 2018
PSD2 began entering into force
Sep 14, 2019
SCA and third-party access requirements in force
Dec 31, 2020
PSD2 transition period concluded

API Specifications

Technical standards and API specifications for implementing PSD2:

Official Documents & Resources

Key Notes

Foundation of Open Banking in Europe. RTS on SCA mandated secure communication standards.

Official Resources

Related Regulations

Other open banking frameworks in Europe:

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