What is PSD2?

What is PSD2?

Payment Service Directive 2 is an update of the payment guidelines in Europe. PSD2 contains all kinds of adjustments. The access that third parties receive to our bank account receives by far the most attention. In short, according to the new guidelines, third parties can do three things: make payments, retrieve payment data and check whether a customer has sufficient funds. That is linked to strict conditions. The company in question must have a license, and the customer must have given explicit permission.