How exactly is PSD2 faring across the EU? Here are the lessons from an actual LIVE PSD2 implementation for a UK based client.
The Revised Payment Services Directive (PSD2) is unlike most other contemporary regulatory initiatives. The aim of PSD2, it seems, is to force innovation in an industry already beset by disruption and challengers ranging from BigTech, FinTech to digital-only banks.
New PSD2 regulations in the EU offer opportunities for the financial and FinTech sectors and will enhance customer’s payment experience and wealth management options. However, banks will need to redesign payment business models, and TPPs will now need to submit to regulatory supervision.