New payment services have been created through this directive.
If a few years ago the Second Payment Services Directive, the so-called PSD2 , came into force, the aim of which is to adapt the regulatory framework to the emergence of new services, there is already talk of PSD3. Banking entities, FinTechs and companies must know how to integrate new forms of payment to manage their company.
Discover how businesses are integrating new forms of payment into their daily management. Optimize your operations and provide an exceptional experience to your customers!
Current regulation: PSD2
PSD2 creates a level playing field for all payment service providers with the aim of improving payment choice and security. It introduces third-party payment service providers (third-party PSPs) which requires banks and other PSP account administrators to allow access to their customers' accounts to such third-party PSPs.
And this through the creation of two new services:
The payment initiation service , which consists of initiating a payment order at the request of a client from an account held with another payment service provider
The account information or account aggregation service , which consists of providing consolidated information about one or more payment accounts held by the user with one or more additional PSPs
The purpose of the Second Payment Services Directive, known as PSD2 , is to adapt the regulatory framework to the emergence of new services.
The FIDO (Fast Identification Online) computer freight forwarders brokers email lists security standard sets out the steps to follow. Strong authentication will thus combine two factors among the following elements:
What we know: password, PIN code, secret phrase.
What we have: magnetic card, RFID, USB key, chip card, smartphone, or an authentication card or token.
What we are: fingerprint, retinal print, hand structure, facial bone structure or any other biometric element.
What we know how to do or what we do: behavioral biometrics, handwritten signature, voice recognition, a type of calculation known only to oneself, a behavior, etc.
Where we are located: A place from where, after having successfully identified and authenticated ourselves, access is authorized to a logical system at a prescribed location.
Approaching instant payment
Available for both individuals and companies, Instant Payment or SEPA Instant Credit Transfer is a new payment method available in the 34 countries in the SEPA zone , which allows bank transfers to be made in real time (about 10 seconds).
