PSD2 Objectives

The main objectives of the revised directive

PSD2 aims to provide for the further development of an enhanced and integrated internal market for electronic payments within the EU. It provides an extensive framework for payment services, with the objective of making payments within the EU more secure and effective. It will provide greater protection for consumers by increasing security measures for electronic payments. It pursues to open payment markets to new entrants, by encouraging more competition, providing greater choice and competitive prices for consumers.

Ultimately this lays the foundations needed to accelerate the build of an ecosystem that will support an integrated and efficient European payments market.

Core Objectives

  • Provide for a single, efficient European payments market for retail payment transactions and contribute to an integrated and efficient European payments market, reducing market deficiencies, exemptions and creating the prerequisites for the digitisation of the payments industry
  • Improve the level playing field for all payment service providers and boost competition as well as build the foundation to provide equal opportunities to all payment service providers
  • Future-proof & support the directive by including not yet regulated payment service providers, not yet regulated transactions and reducing exemptions
  • Enhance & improve client protection & the security of payments by increasing transparency, efficiency and security of retail payments
  • Reduce Total Cost of Ownership in the payments value chain, increasing competition, encouraging lower prices for clients and setting benchmarks