Payment Services Directive (PSD2)

The Payment Services Directive 2 (PSD2) is a European regulation designed to improve and modernize payment services across the European Union. It promotes competition by allowing third-party providers to access bank customer data, with permission, to create innovative financial services. PSD2 enhances security for online payments and aims to protect consumers by establishing stronger authentication processes. Overall, it facilitates easier and safer digital transactions, encouraging a more integrated and efficient payment environment across Europe.