European Payments Council Issues Terms of Reference for API Evaluation Group

On September 4, 2018 the European Payments Council published the terms of reference for the Application Programming Interface (API) Evaluation Group, which have been approved by its members. The group was created by the European Commission as part of the final report of the Euro Retail Payments Board's Working Group on Payment Initiation Services (PIS).

The objective of the API Evaluation Group is to evaluate standardised API specifications to facilitate and ensure the standards are compliant with the requirements of the revised Payment Services Directive (PSD2) and the regulatory technical standards (RTS) for strong customer authentication and common and secure open standards of communication.  

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