Payment Services Directive II (PSD2)

The Payment Services Directive II (PSD2) is a European regulation that aims to make online payments safer, more innovative, and competitive. It requires banks to open their payment infrastructure to third-party providers, allowing them to develop new financial services and apps. This enhances consumer protection, improves payment security, and promotes transparency by ensuring customers have more control over their financial data. Overall, PSD2 fosters a more integrated and secure payments ecosystem, benefiting consumers and businesses alike by encouraging innovation and financial choice.