Payment Services Directive 2: Worldwide Industry Implications 2017 - Research and Markets

DUBLIN--()--Research and Markets has announced the addition of the "Payment Services Directive 2: Worldwide Industry Implications" report to their offering.

The European Union, now facing the United Kingdom's upcoming "Brexit," still faces the monumental task of fully uniting the Single Euro Payment Area (SEPA). The Payment Services Directive (PSD) created a competent legal body to regulate the market. A revision-PSD2-broadens its reach to include payment transactions that either originate or end in the eurozone and deepens its coverage in an effort to increase competition and reduce costs.

The latest research, Payment Services Directive 2: Worldwide Industry Implications, explains how PSD2 pushes the limits of account access, security, and competition. According to the report, credit card banks will feel the financial impact of the European cost-cutting measures, which will likely reduce non-interest bank revenue by 1 billion.

The report advises that keeping pace with the mandates will require credit card banks to think ahead of the curve and maintain their control of the market or be ready to cede their revenue streams since PSD2 defines two new roles that eliminate financial institutions' exclusive control of customer data. The Account Information Service Provider (AISP) and the Payment Initiation Service Provider (PISP) roles are intended to improve consumers' access to their accounts, but opening access brings a new layer of financial technology risk.

Highlights of the research report include:

- A review of both the original Payment Services Directive, the new PSD2, and an expectation for PSD3 for the next decade

- Application Program Interfaces (API) and the stress of legacy systems

- Discussion of the new functions called Account Information Service Provider (AISP) and the Payment Initiation Service Provider (PISP) and why they add a new layer of risk to financial services

- A review of Access to Accounts (XS2A) suggesting that regulators wearing rose-tinted glasses might be on a quest for a viable pan-European payment solution

- The impact of extending PSD beyond two-sided eurozone parties.

Key Topics Covered:

1. Executive Summary

2. Background

3. A Brief Review of the Original PSD

4. Payment Services Directive 2

5. The ABCs of PSD2

6. Significant Implications for Payments

7. PSD2 Industry Implications

8. Conclusions

Companies Mentioned

- Aldi

- American Express

- BNP Paribas

- Deutsche Telekom

- Electric Ireland

- iDeal

- La Banque Postale

- MasterCard

- Société Générale

- Trustly

- Visa

- Yodlee

For more information about this report visit http://www.researchandmarkets.com/research/mgtrvs/payment_services

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Banking

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Banking