Benefits for End Customers

The PSD2 Takes the Consumer Into the Protection

With the PSD2, the EU regulates the electronic payment sector. The aim of the directive is to create uniform market standards for all participants, stimulate competition and increase security. The PSD2 strengthens the responsible citizen by giving consumers sovereignty over their banking data. In concrete terms, this means that since the introduction of PSD2, every online banking customer can allow access to his account by third-party providers regulated by BaFin. These third-party providers provide account information services (KID) and payment initiation services (ZAD). In the digital age, consumers are thus enabled to use innovative and bank-independent services. Customers should be able to decide for themselves to whom they allow access to account data.

PSD2 Ready FTS