PSD2 extends the scope of PSD1 by covering new services and actors as well as extending the scope of existing services (payment instruments issued by payment service providers that do not manage the payment service user’s account) by allowing their access to payment accounts.To improve the level playing field for payment service providers (including new players) In the PSD2 case, it is expected that multiple Third Party Providers (TPPs) will create these single entry points for merchants.Contribute to a more integrated and efficient European payments market.In PSD2 terminology an end user is referred to as a Payment Service User (PSU). TPPs can access banking services on behalf of end users. The APIs are available in sandbox and production environments. The revised Payment Services Directive (PSD2) from 2015 updates and complements the EU rules established by the Payment Services Directive (PSD1). This page describes DNB’s PSD2 APIs (dedicated interface) and how they can be used by Third Party Providers (TPPs). The Commission has proposed revising PSD1 to modernize it to take account of new types of payment services, such as payment initiation service providers. It provided the emergence of economies of scale and helped the Single Euro Payments Area (SEPA) in place. The bank of tomorrow is the one that not only sees these changes on the horizon but also adapts to this new environment.
The goal was to make cross-border payments as easy, efficient and secure as “national” payments within a member state. Payment initiation service providers (PISPs) can offer consumers an easy means of making direct fund transfers for online transactions. This legislation provides the legal basis for a single EU payments market, with the goal of establishing safer and more innovative payment services across the EU. Viva Wallets PSD2-compliant payment solution for online marketplaces removes the requirement for them to become licensed providers of regulated payment. The first Payment Services Directive (PSD1) was adopted in 2007.
The European Payment Services Directive (PSD2) complements European Union (EU) rules to enable new players and existing services, the development of payment instruments and access to payment accounts. UniCredit PIS Standing Order API based on Berlin Group Implementation Guidelines 1.3.4.
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