How PSD2 is changing open banking [Q&A]
Compliance with the EU Payments Services Directive (PSD2) is the next key milestone in the continued evolution of open banking. This evolution involves a new set of rules that will change how we confirm our identity when making purchases online.
The implementation of strong customer authentication (SCA), on top of existing open banking capabilities, will require merchants and payment service providers (PSPs) to work together with technology suppliers, card schemes and many others to deliver SCA in a way which works well for customers.