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Reg rageFebruary 24 2014

PSD2: playing with firewalls

The European Commission's proposed update to the Payment Services Directive will allow third parties to penetrate banks' security firewalls, which is leaving banks understandably nervous.

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What is happening?

PSD2 is the revised version of the Payment Services Directive (PSD), the legal framework for a single payments market in Europe. Broadly, the PSD aims to eradicate the differences between national and cross-border payments in Europe and open up competition in the payments industry.

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