What is PSD2?


The Payment Services Directive 2, also called PSD2, was first released in 2015 by the European Commission. This directive compelled the Member State to effectively intervene and regulate the payment service industry.

New laws were expected to come to force on January 13th, 2019. However, due to a delay, some countries applied the new laws at a later stage. In the Netherlands, the new laws were approved on the 19th of February 2019.

Update: Regarding the deadline the EBA (European Bank Authority) has arrived at the decision that migration plans of Payment Service Providers, including the implementation and testing by merchants, should be completed by 31 December 2020.

The Payment Services Directive 2 affects the parties involved in the payment chain and may affect online retailers.

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