PSD2 established new ground rules in the payments ecosystem, laying the foundation of Open Banking. It disrupted the traditional payments value chain and eased the inclusion of third party providers.

Since its implementation, the payments market has continuously evolved due to the development of new technologies and growing customer demands. New digital payment solutions are emerging daily, and third party services are more commonly being used for payment transactions.

This report examines the main impacts and challenges of PSD2 and evaluates whether the regulation has fulfilled its objectives. We provide our view on the recent trends shaping the payments market and offer an overview of potential business cases.