The European Banking Authority launches public consultation on PSD2

The European Banking Authority launches public consultation on PSD2

06 September 16

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The European Banking Authority () has been mandated to develop under the revised Payment Services Directive () five sets of Regulatory Technical Standards (), five sets of Guidelines and one set of Implementing Technical Standards.

On 12 August 2016 the launched a new consultation covering draft technical standards on customer authentication and common and secure communication under . This document was preceded by a Discussion paper released by the in December 2015 that received 118 responses. The resulting draft standards that the has specified are aimed at ensuring an adequate level of security for both consumers and Payment Service Providers (). This should be achieved by strengthening the customer authentication and increasing the protection of customer security details, as well as improving the communication between different .

The public consultation will run until 12 October 2016, and comments can be submitted through the website. The participation of key stakeholders will be immensely valuable throughout the process, so do not hesitate to get involved. A public hearing is planned, as part of the consultation, on 23 September 2016 at the premises, those wishing to attend will need to register with the .

The European Payments Council () responded to the Discussion paper and summarised its position regarding the issues raised, such as strong customer authentication and secure communications between , in its March newsletter. The aims also to contribute to this new public consultation. More information on the ’s response will be available in the December newsletter.

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