Italy: Central Bank Publishes Information for Accessing Payment Accounts under PSD2

On July 30, 2019, the Bank of Italy published information on new services for accessing payment accounts under the revised Payment Services Directive (PSD2).

As the regulatory technical standards (RTS) on strong customer authentication (SCA) come into force from September 14, 2019, all payment service providers (PSPs) that provide payment account services online will need to have an application programming interface (API) that will allow third-party providers (TPPs) to provide new solutions to customers and an emergency mechanism (fall-back solution) as per Article 33 of the RTS, unless an exemption from doing so has been provided by a national authority. 

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