Search results
Results From The WOW.Com Content Network
The Revised Payment Services Directive (PSD2, Directive (EU) 2015/2366, [1] which replaced the Payment Services Directive (PSD), Directive 2007/64/EC [2]) is an EU Directive, administered by the European Commission (Directorate General Internal Market) to regulate payment services and payment service providers throughout the European Union (EU) and European Economic Area (EEA).
Strong customer authentication (SCA) is a requirement of the EU Revised Directive on Payment Services (PSD2) on payment service providers within the European Economic Area. The requirement ensures that electronic payments are performed with multi-factor authentication , to increase the security of electronic payments. [ 1 ]
Dinube Payment Initiation (PSD2) 0101 A0000006300101 MIR (Russia) A000000658: MIR Debit: 2010: A0000006582010 MIR Credit: 1010: A0000006581010 Edenred (Belgium) A000000436: Ticket Restaurant: 0100: A0000004360100 eftpos (Australia) A000000384 Savings (debit card) 10 A00000038410 Cheque (debit card) 20 A00000038420 GIM-UEMOA
The Berlin Group consist of almost forty banks, associations and payment service providers (PSPs) from across the European Union. The objective was to define open and common scheme- and processor-independent standards in the inter-banking domain between creditor banks and debtor banks and to complement the work carried out by organisations like the European Payments Council.
A payment service provider (PSP) is a third-party company that allows businesses to accept electronic payments, such as credit card and debit card payments. PSPs act as intermediaries between those who make payments, i.e. consumers , and those who accept them, i.e. retailers .
Version 2 of 3-D Secure, which incorporates one-time passcodes, is a form of software-based strong customer authentication as defined by the EU's Revised Directive on Payment Services (PSD2); earlier variants used static passwords, which are not sufficient to meet the directive's requirements.
In October 2015, the European Parliament adopted a revised Payment Services Directive known as PSD2. [19] The new rules were aimed at promoting the development and use of innovative online and mobile payments through open banking. [8] [20] It introduced a number of new services, definitions, and obligations for market participants.
Wero, with its payment network, digital wallet and international instant payments scheme, aims to replace European domestic solutions such as Swish, iDEAL, Bizum and Blik. QR code payments will be available for both money transfers and payments, with plans for more payment options in the future.