The PSD (Payment Services Directive) of 2007 aims to regulate payment services and payment service providers throughout the European Economic Area. It was then replaced by PSD2, which was transposed into national law by January 13, 2018 and focuses more strongly on improving consumer protection and standardizing cross-border payment transactions.
Now the market is about to be opened to third-party providers (TPPs). Beginning on September 14, 2019, after registering with the responsible supervisory authority and obtaining customers’ consent, these will be able to query account information or initiate payments for them.
Join the PSD2 test phase for third-party providers
Under Sections 45, 48, and 50 of the German Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz, ZAG), on September 14, 2019 we—as an account servicing payment service provider—will begin enabling regulated access (under the XS2A, or Access to Account, provisions of PSD2) by all third-party card issuers and payment initiation and account information service providers to payment accounts that are accessible online.
So that you can try out all of the functions in advance, we are providing you with an API interface for testing. You’ll find complete information on our Developer Portal.