Strategy

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...

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...