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PSD2 - Revised Payment Services Directive

The payment services ecosystem disrupted

PSD2 (Revised Payment Services Directive) entered into force in January 2016, after two years of drafts, amendments and negotiations. Member States now have two years to implement the Directive into national laws, a Directive that comes with extensive and important changes.

The new Directive affects Payment Service Providers, Third Party Payment Providers, and Account Servicing Payment Service Providers alike. Our analysis of the changes required can help understand and envision the payment services ecosystem that is to come

PSD2 – What is new ?


The Revised Payment Services Directive (PSD2) follows in the footsteps of PSD, adopted in 2007, and is a fundamental stage in the implementation of the Single Euro Payments Area (SEPA). PSD2 will open the market to new payment actors and extends the scope of services, thus increasing competition with the aim of making payments more innovative, efficient, swift and secure for consumers.

Member States now have until 2017 to implement PSD2 into national legislation. In anticipation, we have analyzed the main provisions on the key actors of the payments ecosystem – banks, third party service providers, and consumers. An overview of these provisions, including new stakeholders, an amended scope of transactions, adjusted liability rules, and access to accounts and security can be found in our PSD2 factsheet.

For more information on how we can help you comply with the new PSD2 provisions, please visit our PSD2 services page.

PSD2 - Are you prepared?

PSD2 Timeline


While the PSD2 entry into force is defined by January 13th 2018, the effective application of the RTS on Strong Customer Authentication and Secure Communication remains uncertain.

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