Worries Grow As Banks Fear Lack Of API Testing Opportunities

Anxiety is growing among European banks that they may be fundamentally incapable of achieving exemption from the fallback option under the revised Payment Services Directive (PSD2) as a result of insufficient testing opportunities.

Account servicing payment service providers (ASPSPs) are required to prove to their competent authority that their application programming interface (API) is of sufficient standard that they do not need to provide a “fallback option” in case of its failure.

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