What does Payment Services Directive 2 (PSD2) mean for your financial institution?
Banks and payment service providers (PSPs) across the European Union (EU) and European Economic Area (EEA) are in the final stages of a frantic race. On December 31, 2020, Payment Services Directive 2 (PSD2) will come into full effect. This deadline, set by the European Banking Authority (EBA), is focusing minds across the industry. But what exactly is PSD2 — and what does it mean for your business?