PSD2rammi

PSD2rammi is a term that has emerged in discussions surrounding the Payment Services Directive 2 (PSD2) in Europe, specifically referring to a hypothetical or informal entity that would manage or oversee the implementation and impact of the directive. It is not an officially recognized body or acronym within the PSD2 framework. Instead, it appears to be a colloquial or perhaps a slightly critical way of referencing the collective responsibilities, challenges, and consequences associated with PSD2 for banks, payment service providers, and consumers. The "rammi" part of the term might suggest a framework, structure, or even a burden.

The concept of PSD2rammi is often invoked when discussing the complexities of complying with PSD2's requirements, such as strong customer authentication (SCA), the establishment of secure communication channels for third-party providers (TPPs), and the obligations for data access and sharing. It highlights the significant technical, operational, and regulatory hurdles that the directive has presented to the financial industry. Discussions around PSD2rammi may also touch upon the perceived benefits and drawbacks of PSD2 for innovation in payments, competition, and consumer protection. Ultimately, PSD2rammi represents the practical reality and ongoing evolution of payment services in the wake of this significant European legislation.