Interview
Cointelegraph spoke with Marjan Delatinne, global head of banking at Ripple, about her experience, banking, and the future of global payment.
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PSD2 News
PSD2, or the second Payment Services Directive, is an EU directive that regulates payment services and their providers within the territory of the EU and the European Economic Area. The aim of the directive is to increase competition within the EU’s payment industry, including the participation of companies that are not banks. PSD2 regulation improves and replaces the former EU PSD. PSD2 is explained by EU authorities as an attempt at creating a single, integrated market for payment services. PSD2 makes it easier for third-part companies to engage in financial transactions. PSD2 offers an opportunity to use, for example, social media and messaging applications for payments, traditionally only done with banking services. PSD2 regulations are likely to bring many new services into the payment industry and may hit at the stability of some banks — especially those without strong technological developments.
- Fintech
The Royal Bank of Scotland has described the EU’s PSD2 payment rules as a “headache for everyone.”
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TrueLayer is seeking to harness the possibilities brought by PSD2 in Europe.
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PSD2, which allows third-party companies to offer banking services to consumers, could eventually transform banking in 67 countries worldwide through a ripple effect.
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Cointelegraph spoke to Marten Nelson from Token about the company’s first step in leading European banks towards secure API banking.
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German banks may have violated EU competition law by placing restrictions on non-bank payment services.
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The UK’s vote to leave the EU raised certain concerns about the country’s continued regulatory alignment.
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Aiming at accelerating innovation and developing a unified payment services sector, the European Commission has adopted the Payment Services Directive (PSD2), which is expected to bring vital changes.
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