What is PSD2?

Question

What is PSD2?

Accepted Answer

The Revised Payment Services Directive (PSD2) is a European Union (EU) directive that provides the legal foundation for the creation of a single, integrated EU payments market, primarily by enhancing consumer protection, promoting innovation through Open Banking, and mandating Strong Customer Authentication (SCA) for electronic payment transactions.

PSD2

What is PSD2?

What is PSD2 and what are its primary objectives in the European payments landscape?

How does Strong Customer Authentication (SCA) work under PSD2 and what are the main exemptions for payment transactions?

What is Open Banking and how has PSD2 facilitated its growth across Europe?

What are the compliance challenges and future outlook for PSD2, including the potential for PSD3?

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