After a turbulent and unpredictable 2016, the global payments industry has its work cut out to prepare for a flurry of regulatory, legislative and policy reforms.
National authorities across all EU member states must work on transposing the revised Payment Services Directive (PSD2) into domestic law, ready for the January 2018 deadline.
The requirement for banks and payment service providers to allow secure third-party access to accounts will require those institutions to make wholesale changes, not only to their technology and infrastructure, but perhaps also to their business models.
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