News & Analysis as of

E-Commerce European Banking Authority (EBA)

BCLP

PSD2 Open Banking update and operational issues with regulators’ registers

BCLP on

The open banking requirements under the Payment Services Directive (EU) 2015/2366 (“PSD2”) are now in force, under which an account servicing payment service provider (“ASPSP”) must grant an authorised third party service...more

A&O Shearman

Strong customer authentication for e-commerce card payment transactions: an EU harmonised extension of 14 months to be compliant

A&O Shearman on

Following its June opinion on the possibility for national competent authorities to work with payment service providers and relevant stakeholders and agree on limited additional time for compliance with the strong customer...more

Latham & Watkins LLP

Readiness for PSD2: APIs Fall Short, but More Time for SCA

Latham & Watkins LLP on

While the payments industry scrambles to meet new standards for APIs, the FCA grants an extension for SCA compliance. In an effort to evaluate the readiness of banks to comply with the revised EU Payment Services Directive...more

Morrison & Foerster LLP

FinTech Focus: New European Directive on Payment Services (PSD2) Comes into Force

On 12 January 2016, the long-awaited revised Payment Services Directive (“PSD2”) came into force in Europe. This replaces the Payment Services Directive (“PSD”) that has been in place since 2007. The deadline for EU member...more

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