1. TIMELINE
Detailed calendar
PSD2 is a European regulation adapting the
regulatory framework of payment services to the
challenges posed by the emergence of innovative
services, the rapid growth of electronic payments
and the steady pace of technical innovation
Processing operations Access to accounts Security and operational
risk management
PSD2
RTS
(Regulatory
Technical
Standards)
Dec. 2007
PSD : First PSD comes into force
July 2013
Proposal for a revision of PSD submitted
by the European Commission
Aug. 2016
Release of RTS - Consultation Paper by EBA
Oct.- Nov. 2017
RTS - Adoption
by the European Commission
Aug. 2019
RTS come into force
Nov. 2009
PSD : Deadline for
transposition in national
legislation
Jan. 2016
PSD2 goes into force
Feb. 2017
Final report of ABE
on RTS projects
13 Jan. 2018
PSD2 : Deadline for
transposition into a
national legislation
PSD sets the foundation for
common rules on electronic
payments in the EU
PSD2 aims to boost innovation,
enhance consumer protection,
improve the security of internet
payments and account access
within the EU
Oct. 2015
Adoption of the PSD II by the European Comission
THE CONTRIBUTIONS OF THE DIRECTIVE
AISP
Access to the accounts
and transaction data
Consists on providing consolidated
information about one or more
payment accounts held by the user
with one or more other PSPs
PISP
Authorize payments directly
from the account
Consists on initiating a payment order
at the request of a user from a payment
account held with another PSP
Focus on the account access
The impact of PSD2 on the payment flows
3 Pillars
The directive deals with issues that are based on 3 pillars
EXAMPLES OF RECENT NEW PLAYERS
PSD2 - The second Payment Services Directive
Transposition into a
national legislation
Application of the rule
Transposition into
a national legislation
The directive transforms the banking sector
and payment services
Comply & Compete
Illustratingthecompetitionenhancement
Heading toward more connected services
Card scheme Acquirer
Merchant
PISP
AfterPSD2adoption
New parties can act as «Payment
Initiation Service Providers»
of work with PISP to simplify the
flow of transactions and payments
BeforePSD2
Proprietary Apps
Proprietary Apps
Internal API
Internal API
Customers
Customers
Third Party
Apps
BANK DOMAIN
BANK DOMAIN
Issuing bank
Customer
Issuing bank
Customer
Bank Data
Bank Data
&
Expose APIs to allow access
of the directive information to
TPPs in compliance with the
RTS
Grant TPPs
access to
Account information
(for AISPs) and Payment
initiation (for PISPs)
Ensure a high
level of consumer
protection against fraud
and such as contentious
transactions (Repayment
D+1 time limit )
Strengthen
security and payment
protection procedures in
case of fraud between
TPPs and banks
COMPLY
Monetize
the payment
information access
Customer documentation,
accounts savings, transfer
/ withdrawal Aggregation
Services (multi-banking)
Explore the
open-banking area
Enhance partnerships in order
to keep a key role in the value
chain and keep control over the
distribution process
Develop new services
and APIs
• Design premium APIs to access
to other customer data
• Aggregate the Data and
enhance the information
security
Get a position
as AISP or PISP
Offer Accounts Receivable
Aggregation Services
(multi-banking) and order
payment initiation by direct
access to the customer’s
account via the online bank
COMPETE
Customers
12 Jan. 2016 13 Jan. 2018
Sept. 2018
to Aug. 2019
