The second directive on payment services (PSD2) came into force across the European Union on January 12, 2016 and was passed by law by the EU member states on January 13, 2018.
PSD2 states that Account Service Payment Service Providers (ASPSPs) offering online payment accounts allow Payment Service Users (PSUs) to access accounts through Regulated Third Party Service Providers (TPPs) to:
- Initiate payments;
- Retrieve account information;
- confirm available …