PSD2

WHAT IS PSD2?

PSD2 is the second Payment Services Directive, designed by the countries of the European Union (Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market). 

The PSD2 Directive was implemented into Belgian law by the Act of 11 March 2018.

WHAT DOES PSD2 CHANGE?

PSD2:

  • Increases the security of payments in electronic banking by
  • introducing two-step verification through at least two elements from the following categories:
    • knowledge; information only known to you, e.g. password, PIN,
    • ownership; something that only you have access to, e.g. telephone, token, payment card,
    • your own features, e.g. biometric data,
  • Introduction of payment services as part of open banking.

 

WHAT DO YOU GAIN FROM PSD2?

Thanks to PSD2 you get:

  • access to all payment accounts (kept in various banks) in one place,
  • immediate verification of the current financial situation,
  • secure transaction confirmation,
  • automated processes, e.g. credit verification process,
  • access to open banking and consent management for external service providers.

 

QUARTERLY REPORTS

 

The test environment for TPP can be found at:
http://devportal.psd2.aion.be/

If you have any further questions, please do not hesitate to contact us at psd2@aion.be

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