PSD2: The dispute over authentication and APIs Video
PSD2 has been heralded as an unprecedented shift in power in the European payments landscape. The directive creates a framework letting third-party providers, or TPPs, gain access to customers' bank accounts — providing they are acting with their consent and are fully regulated to aggregate data and initiate payments.
PaymentsCompliance Editor John Basquill looks at what this new initiative means for banks, TPPs and others in the payment chain before regulatory technical standards on third-party access take effect in September 2019.
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