【 Cross border Dynamics 】 The second version of the EU Payment Services Amendment Act, PSD2, has officially come into effect and been implemented
* 来源: * 作者: admin * 发表时间: 2023/05/26 15:24:53 * 浏览: 290
On January 13, the second edition of the European Payment Service Amendment Act (English Payment Service Directive 2 : hereinafter referred to as PSD2) will finally begin to come into effect within the EU. The introduction of PSD2 is to make payments more secure, increase consumer protection, promote innovation and competition, while ensuring a level playing field for participants. According to the new EU Directive, banks should share user information with third parties with user authorization, which will give non-bank companies the opportunity to compete with banks in payment services and provide consumers with more choices in financial products and services Chances are, online shopping in Europe will be cheaper and easier.
The main contents of PSD2 include the following three points:
1. Encourage users to use payment products provided by third-party service providers to manage personal or business financial status
It is clearly stipulated in PSD2 that major European banks will be required to open user account information permissions to third-party payment service providers (PSPs for short) and provide all necessary API interface permissions.
2. Prohibit merchants from passing on payment costs to consumers
Protect the legitimate rights and interests of consumers for online consumption, and prohibit merchants from passing on payment fees, transfer fees and other bank fees generated by the flow of funds to consumers. This ban mainly applies to independent websites and other forms of autonomous payment collection. For most Amazon, eBay and other platform sellers, third-party payment institutions will properly resolve the corresponding reforms after PSD2 takes effect, and sellers do not need to make any specific adjustments, and can still use their existing payment schemes normally.
3. The protection of online consumer rights has been greatly improved
In order to strengthen the protection of consumers' online consumption, PSD2 will enforce the online payment authentication system for major European banks and payment companies.
关闭返回