The European Union’s Second Payment Services Directive Comes into Force on 13 January 2018
The European Union’s (EU) second Payment Services Directive (PSD2) will come into force on 13 January 2018, which aims to bring new entrants to the payment services market inside the scope of financial regulation.
While PSD2 will affect the entire banking and payments industry, arguably the biggest impact will be felt by companies that undertake payment initiation services or account information services via an online platform or mobile application on behalf of individual or corporate users.
This Adviser looks at the impacts of the new legislation and examines the main requirements around:
- Data protection.
Read the Adviser for more information.