20 March 2019
Strong Customer Authentication | PSD2 series #3
In 2019, the banking industry will continue its evolution toward a more digital, secure, open and interoperable global banking system – enhancing customer digital experience. Strong Customer Authentication specific Requirements Technical Standards (SCA-RTS) will therefore be a major issue for payment initiation, processing of electronic payment, protection of financial data access, and other financial services....
5 December 2018
Promoting payment innovation and adjusting legal requirements | PSD2 series #2
Account-servicing payment service providers (ASPSP) such as banks are de facto payment service providers (PSP). PSD2 creates new licences for TPP, allowing them to provide new types of financial services, licenced processes and audits. This article reviews the general rules and requirements for registering a PSP and analyses the implications of the new licences for...
31 July 2018
What are PSD2’s direct impacts on banking business? | PSD2 series #1
Administered by the European Commission to regulate all payment service providers, the 2018 Payment Service Directive 2 serves new providers increasing pan-European competition, regulating their participation and harmonizing consumer protection. Liechtenstein therefore has a role to play to enhance transparency and traceability of payment transactions – both as a bridge between EU/EEA/Switzerland thus becoming the...