Tag: PSD2

1
The Screen Scrape Debate will not Abate
2
The Second Payment Services Directive – Political Agreement Nears

The Screen Scrape Debate will not Abate

By Judith E. Rinearson, Rizwan Qayyum

The debate surrounding “screen-scraping” continues as Member States of the European Union are preparing for the impending Second Payment Services Directive (“PSD2”). Screen scraping is the practice in which third-party Payment Initiation Service Providers (“PISPs”) and Account Information Service Providers (“AISPs”) are granted access to bank accounts of a client utilising their credentials to perform a service. As heralded in our discussion in July identifying the problem, the European Banking Authority (“EBA”) maintained their stance of outlawing the practice in the final draft Regulatory Technical Standards (“RTS”) on secure communication and Strong Customer Authentication (“SCA”). Consistent industry pressure has led the European Commission (“EC”) to request of the EBA to permit AISPs and PISPs to utilise screen scraping as a “fallback option”.

Read More

The Second Payment Services Directive – Political Agreement Nears

By: Jacob GhantyOliver Lewis

The original Payment Services Directive (2007/64/EC) (“PSD1”) was introduced to provide greater price transparency for users of payment services and to create a level, competitive playing field among providers of different types of payment service. Prior to implementation of PSD1, many types of payment service were not regulated, even if certain types of payment service provider, for example banks, were in some way regulated. However, since implementation of PSD1 in November 2009, the current regulatory regime has been unable to keep up with the pace of the fast moving payment services sector.

Read More

Copyright © 2018, K&L Gates LLP. All Rights Reserved.