The European Commission has developed the PSD II Directive which introduces significant innovation in the area of legal and compliance, technology and security, and it defines new roles and services in the payments market. This Directive has the the primary goal of creating a single integrated market for payment services through standardizing the regulation for banks and for new PSPs which are coming up due to the digital era. This Directive will help to strengthen the system security, pulling down the entry barriers and ensuring transparency and fair competition always with the benefit of consumers.
MISSION: To provide on PSD2 assessment and feasibility study on PSD2 compliance.
RESULT: Implemented the assessment reducing the impact and keeping in mind:
TIMELINE ESTIMATED: 2 months
WHICH IS THE AIM?
To continue the development of an integrated single market by standardizing the rules of Payment Services Providers (PSP) and the new market players (today unregulated).