PSD2 is changing the world
The Second Payment Services Directive is a substantial update to the regulation of payment services. Banks must offer and open APIs for serving Account Information, Payment Initiation services, and confirming funds on a card. These services will be available for free, promoting innovation, competition, and the development of new kinds of financial services.
What's in PSD2 for customers?
Customers will benefit greatly from increased competition and lower prices. New and innovative ways of banking will enable customers to better control their finances. Financial-grade methods of Strong Customer Authentication mean that security takes an important leap ahead.
What about developers?
PSD2 APIs allow Third-Party Providers to provide banking services to OP's customers. Developers will be able to create and provide services using secure dedicated interfaces - at no additional cost.
How can my company register as an AISP and/or PISP?
Apply for an AISP/PISP license at your national financial authority. Once you have a valid license (passported to Finland if necessary), you need to obtain valid TPP certificates for production access. Once you have these, you may start using PSD2 APIs at your discretion, starting with the TPP registry API.
|Finland||Financial Supervisory Authority|
|Estonia||Estonian Financial Supervision and Resolution Authority|
|Latvia||Financial and Capital Market Commission|
|Lithuania||Bank of Lithuania|
What about security?
OP sets a high standard for security. Modern Oauth-based authorization flows with highly reliable QWAC and QSEAL certificates issued by eIDAS certificate providers protect every detail. So you can rest easy - your data stays safe.
Who is developing on top of PSD2 APIs?
EU Member states maintain exhaustive lists of all authorized account information and payment initiation service providers. See the website of the European Banking Authority for more information.