Payments News » PSD2

PSD2 open banking: the ticking time bomb for EU Financial Institutions

April 4 2018

in
PSD2

“The clock is ticking. The overall idea behind PSD2 open banking is not new. Yodlee and others have for a while aggregated accounts, and they have done this through a process known as screen scraping. Now though the world is changing and radically, writes Brendan Jones”

Global

Speed, safety, and savings in direct payments

March 21 2018

“PSD2 will create opportunities for new forms of payment. IATA is investigating how this could be applied to payments by passengers: both direct to the airline and indirectly via travel agents. The potential prize is huge. Globally airlines absorb more than $8 billion in costs for merchant fees and fraud.”

Regulation

How digital banks are raising the bar for customer experience

March 21 2018

“Digital-only challenger banks have changed customer expectations, including customer service and how customers want to use financial products. Big banks are taking notice, with companies developing sub-brands to hook younger, digital-savvy customers or others — the most recent of which is rumored to be the Royal Bank of Scotland.”

Regulation

PSD2 opens up bank accounts to third parties. What could possibly go wrong?

April 12 2018

in
PSD2

“PSD2 is rolling out open banking across the EU and beyond, giving third parties access to bank account data. Here are six reasons things won’t go smoothly.”

Regulation

What Europe’s Tough New Data Law Means for You, and the Internet

May 7 2018

in
PSD2

“The new law requires companies to be transparent about how your data is handled, and to get your permission before starting to use it. It raises the legal bar that businesses must clear to target ads based on personal information like your relationship status, job or education, or your use of websites and apps.”

Regulation

PSD2: Real-time processing? Not so fast

August 30 2018

in
PSD2

“Industry experts observe that while the revised Payment Services Directive (PSD2) represents an opportunity for corporate treasury to take advantage of real-time payment processing, it will take some time for the full benefits to be realised.”

Domains

Using a selfie to verify your online card payment – the technology is here

September 17 2018

“Mastercard is hoping its Identity Check solution will become the technology of choice for banks looking to meet new requirements for verifying identities online as set out in the (Revised Payment Service Directive) (PSD2) legislation. The technology, which has been developed in part at the Mastercard Labs facility in Leopardstown, enables users to use biometric identifiers […]

Global

Fintechs and PSD2: The Role Of Competition Enforcers In Opening Up The Bank Infrastructure

July 27 2018

“Despite the explosive growth of Fintech companies, newcomers to financial services sector often experience barriers when entering the market. Banks are not required to share their customers’ payment account data with third parties on the basis of existing financial regulations. In various studies, the Netherlands Authority for Consumers and Markets (“ACM“) analysed the possibilities to increase […]

Companies

Mastercard Unveils Solutions To Underpin Open Banking Transformation

June 5 2018

“Mastercard announced today that it is developing a new suite of services to underpin the transformation taking place in the industry as partners ready themselves to take advantage of Europe’s PSD2 legislation. With trust and security major pillars of the open banking ecosystem, Mastercard’s new services will make it easier for banks and third party […]

Regulation

Transakt Judged PSD2 Compliant for Strong Customer Authentication

April 12 2018

“Entersekt, a leader in next-generation digital banking security, today announced that its mobile app security and authentication product Transakt has been endorsed by a key European consultancy as a “state of the art solution” to the European Banking Authority’s Regulatory Technical Standards (RTS) on strong customer authentication under PSD2. These specifications define the enhanced security […]