The Second Payments Services Directive (PSD2) went live in the EU on September 14, 2019. Although strict enforcement of Strong Customer Authentication (SCA) has been delayed until at least December 2020, about 6000 banks in the unified region are expected to be now ready with payment APIs for third-party (TPP) consumption, as required by the directive. The on-ground situation, however, is different. As several studies point out, barring the UK—which has maintained discipline in standards, implementation, documentation, and narratives—the rest of the EU still has a long way to go to achieve satisfactory compliance. |
