PSD2
From MgmtWiki
Full Title or Meme
An attempt by the EU to open competition among banks by loosening standards and altering the risk model.
Context
On 2015-10-08 the European Parliament voted to pass the Payment Services Directive 2 (PSD2). A simple description of the program from the Starling Bank[1] gives a good non-technical description.
Problems
Most of the problems from the user perspective are described in the UK Open Banking page on this wiki.
Solutions
Don't enable PSD2 on any of your banks, you are much better protected by giving the merchant your credit card number.
References
- ↑ Anne Boden, Explaining PSD2 without TLAs is tough! (2018-01-12) Starling Bank https://www.starlingbank.com/blog/explaining-psd2-without-tlas-tough/
