20 JANVIER 2016

PSD2 is in full effect: more competition expected from new entrants

The EU directive 2015/2366, also called PSD2, went into effect on January 13, 2016. This regulation clarifies ambiguities of the previous PSD directive (2007/64/EC) and formally introduces some new roles for non banking entities within the ecosystem of innovative payments.

The PSD2 changes also have the intended goal of accelerating competition among suppliers for the benefit of the end-customers, thereby growing market reach. The new non-banking actors are called TPPs (Third Party Payments Service Providers), which are further classified into PISPs (Payment Initiation Service Providers) and AISPs (Account Information Service Providers). Both classifications of TPPs will soon be operating alongside PSPs under the technical rules issued by the European Banking Authority (EBA), especially in regards to the authentication and communication protocols in the payment value chain.

During the 24-month period available to each country for the PSD2 transposition, the national supervision authorities will, for example, define the new supervisory rules for the various types of TPPs, among other tasks.

As a knowledge leader on the end-to-end value chain in payment services across traditional and emerging innovative payments, like ObEP, P2P, Mobile and Instant Payments, TAS Group has been involved in several major working groups, institutional as well as privately managed initiatives. The most recent engagement has been the sponsorship of the CeTIF Competence Center dedicated to PSD2 innovations together with ICBPI (Istituto Centrale Banche Popolari Italiane) and Almaviva. In the last 4-month research period TAS has contributed to the construction of a Maturity Model supporting the assessment of participating Banking Institutions in relation to business impacts and opportunities that show up for those banks capable of acting as fist movers

To know more about TAS solutions capable of empowering your market positioning in the Payment Services landscape please write us at .