PSD2direktiivit

PSD2direktiivit, formally known as the Second Payment Services Directive, is a European Union directive that regulates payment services and payment service providers within the European Economic Area. Its primary goal is to enhance consumer protection, promote competition, and foster innovation in the financial sector.

The directive introduced the concept of third-party providers (TPPs) who can access customer bank account data with explicit customer consent. This access enables TPPs to offer new payment initiation services and account information services, thereby increasing competition among traditional banks and encouraging the development of innovative financial technologies, often referred to as FinTech.

Key provisions of PSD2 include strong customer authentication (SCA) requirements for most online payments, which aims to reduce fraud and improve security. It also mandates that banks provide access to customer data to authorized TPPs through standardized application programming interfaces (APIs). This open banking framework is a cornerstone of PSD2, allowing for greater interoperability and the creation of integrated financial services.

PSD2 has had a significant impact on the financial landscape, pushing banks to adapt and invest in technology to comply with the new regulations and to remain competitive. It has paved the way for a more dynamic and customer-centric payment ecosystem in Europe.