What the PSD2 (Payment Services Directive 2) is changing for merchants and their customers
The introduction of PSD2 will probably encourage the deployment of new account-based payment solutions (Payment Initiation Service Provider) as an alternative to the traditional card-based payment solutions. In this context, merchants will be under pressure from their customers to accept account-based payment methods online and in stores. Some technical aspects such as the strong customer authentication and the way to access the bank account have been detailed by the EBA RTS (European Banking Authority Regulatory Technical Standard) to define the scope and characteristics of the new account based payment services.
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