PSD2
Payment Services Directive 2
PSD2 is a European Union regulation that requires banks to open their payment infrastructure and customer data to third-party providers, fostering competition and innovation in financial services.
PSD2 introduced Strong Customer Authentication (SCA) requirements for electronic payments and enabled open banking in Europe. It aims to make payments more secure and give consumers more control over their financial data.
Related Terms
Open Banking
Open banking is a system where banks share customer financial data with third-party providers throug...
API
Application Programming Interface
An API is a set of protocols and tools that allows different software applications to communicate wi...
SEPA
Single Euro Payments Area
SEPA is a payment integration initiative of the European Union for simplification of bank transfers ...
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