PSD2 Directive on Payment Methods

PSD2 is the European Directive that regulates payment services (for example transfers, direct debits or card payments) made in Europe, with the proposal to promote transparency, competition, and innovation of payment services in the financial sector . It also allows third companies to intervene in payments. This is what is known as «open banking».

The PSD2 regulates and harmonizes two types of services that already existed when the first PSD was adopted in 2007: payment initiation services (PIS) and account information services (AIS).

The AIS consists of collecting and specifying the information of the different bank accounts of a client in one place, while the PIS facilitate the use of online banking to make payments online.

Exposition of the mural with more detailed information:

Links:

https://www.triodos.es/es/que-es-psd2

https://www.bbva.com/es/lo-saber-la-psd2/

https://www.bbva.es/finanzas-vistazo/ef/banca-digital/psd2.html