payment services directive (psd2) context · 1.implementation of psd2, open banking and new apis...

PAYMENT SERVICES DIRECTIVE (PSD2) CONTEXTJohn Broxis

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1. Implementation of PSD2, Open Banking and new APIs – potential new business models and revenue streams (and how to improve existing revenue streams)

What is Open Banking Europe2

eIDAS meets PSD2Securing Access to Financial Services with Qualified Certificates

Open Banking Europe community


PSD2 Access to Account4


PD2 Access to Account and RTS

PSD2 Article 65, 66, and 67

Account servicing Payment Service Providers that offer online payments accounts shall allow PSUs to access accounts via regulated third parties to

• Initiate Payments• Get Account Information• Confirm available funds

Communications between the ASPSP and the TPP will be secure, and in compliance with the RTS

EBA RTS on Common and Secure Communication and Strong Customer Authentication.• ASPSPs must provide an interface

that conforms to some rules (Article 30).

• An API or an adaption of the user interface (Article 31)

• All interfaces will use eIDAScertificates for Identification, based on the registration numbers issued by national competent authorities (article 34).


Revocations & Disputes

Interfaces & SCASetup

eIDASCertificates

Registration &

Passporting

20/03/2018


PSD2 Challenges7


ASPSPs have the obligation to allow access to regulated entities, and block access to those that do not have access.

Failure to properly authenticate, leads to the risk of unauthorised transactions and subsequent claims under PSD2, or unauthorised data sharing and subsequent claims under GDPR.

Common understanding:• ASPSPs will use eIDAS certificates will be used for Identification

• ASPSPs will use the National registers for the Authorisation of a party, i.e. understanding if a party is regulated and what that party is authorised to do.

Granting Access


Certificate Standardisation

NCA register Harmonisation

Linking QTSPs & NCAs

Common Directory

Four ERPB Identification challenges




eIDASCertificates

Registration &

Passporting

1020/03/2018


Authorisation and Passporting11



eIDASCertificates

Registration &

Passporting


HomeMSCA

HostMSCA

Authorisation

Home Register

Passporting

MSCA approves/rejects AuthorisationTPP applies to Home MSCA

MSCA issues Registration NumberMSCA adds to Home Public RegisterTPP Notified of Authorisation

TPP

TPP applies for PassportingMSCA passes request to Host MSCA.

MSCA adds to Home Public RegisterTPP Notified of Passporting

Made publicly available online

ASPSP

Authorisation and Passporting


24.

8.

17.19.

9.

3.

12.

2.20.

11.25.

29.

30.

23.

10.33.

26.

31.

32.

1.18.

16.22.

21.

13. 27.

4.28.

6.

7.

14.

15.34.

5.

PDF Only (English), one Authorisation Number

Single Search Only (English),two Authorisation Numbers

Web format, Two Authorisation Numbers

Single Search Only (French) three Reg Numbers

x 31

[PI, EMI, Credit Institutions]

x 3

[Number of Member States]

31 national registers


Open Banking Europe actions

• Defined the set of data needed for successful access to account• Defined a unique referencing number system that is linked into the certificate standard.

• Completed a gap analysis of all 31 public registers• Held / holding bilateral meetings with NCAs

• Designed a directory to hold standardised data on all regulated players

• Developing that directory


Country Readiness heat map


The Open Banking Europe Directory16


Example TPP: Trustly in Sweden


The Unique reference number

eIDAS meets PSD2Securing Access to Financial Services with Qualified Certificates19

Roles and Passports


Directory API


Directory: operational data

ASPSPs will use the directory to obtain operational data about TPPs (e.g. contact numbers) that are stored in the directory.

TPPs will use the directory to obtain operational data about ASPSPs (e.g. developer portals, contact numbers) that are stored in the directory.




eIDASCertificates

Registration &

Passporting

20/03/2018

payment services directive (psd2) context · 1.implementation of psd2, open banking and new apis...

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