Payment Services Directive (PSD2) - Compliance Framework

The Revised Payment Services Directive (PSD2, Directive (EU) 2015/2366, which replaced the Payment Services Directive (PSD), Directive 2007/64/EC) is an EU Directive, administered by the European Commission (Directorate General Internal Market) to regulate payment services and payment service providers throughout the European Union (EU) and European Economic Area (EEA). The PSD directive's purpose was to increase pan-European competition and participation in the payments industry also from non-banks, and to provide for a level playing field by harmonizing consumer protection and the rights and obligations for payment providers and users. The key objectives of the PSD2 directive are creating a more integrated European payments market, making payments safer and more secure therefore protecting consumers.

After the training, participants will be able to: 

• Understand the core objectives of the PSD2 framework and the impact of APIs to payment service providers
• Understand requirements on strong customer authentication
• Analyse the potential future developments and strategic challenges and opportunities for banks and FinTech firms

• Basic principles of PSD2 and its scope
• Implementation process of PSD2 and the statutory framework
• Access-to-Account (XS2A) requirements
• Payment initiation and access to account services
• Regulatory Technical Standard on Strong Customer Authentication and secure open standards on communication
• Key technological tools and approaches to PSD2 compliance
• Discover how PSD2 applies in your organisation 
• Identify the risks and opportunities created by PSD2

The course is suitable for anyone who wants to learn the fundamentals of PSD2 and its role in the payments industry. The course is specifically targeted at people working within and at all levels in the payments area of financial institutions and PSPs.