The Payment Services Directive 2 (PSD2) is a European directive that was adopted in 2015 and came into force in January 2016. Its aim is to create a more integrated European payments market and make payments more secure and protect consumers .
It also introduces new players into the payment services field and includes new services. Currently, the PSD2 is in the process of being implemented across all European Union Member States, with the deadline for implementation being September 2019. The latest updates to the PSD2 include the introduction of Strong Customer Authentication (SCA) and Regulatory Technical Standards on strong customer authentication and secure communication .
These measures are designed to make online payments more secure and reduce the risk of fraud .
- Payment Services Directive – Wikipedia
- Strong Customer Authentication
- Understanding Strong Customer Authentication & PSD2 – Adyen