NextGenPSD2 is an updated version of the Payment Services Directive (PSD2), an EU directive that regulates payment services and payment service providers.
The directive was first implemented in 2018 and has been in force since then.
The main objectives of NextGenPSD2 are to improve the security of online payments, increase consumer protection, and promote competition and innovation in the payments industry.
The directive is currently being implemented in the EU, with different countries having different timelines.
In some countries, such as the UK and Germany, the implementation of NextGenPSD2 is already in full swing, while other countries are still in the process of implementing the directive.