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PSD2 Live!

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The Dutch Payments Association looks back on a well-attended PSD2 Live! event on 3 October. The event marked the entry into force of all PSD2 legislation. After extensive preparations, PSD2 is finally live.

Abstract look up along curved glass facades of modern buildings against a clear blue sky, depicting transparency and progress.

Together with our members and stakeholders, we have been closely involved in these wide-ranging changes to payments.

Various speakers from new and established market participants, supervisory authority De Nederlandsche Bank and the Dutch Payments Association shared their perspectives on the past year and looked ahead to the near future. Gijs Boudewijn, deputy director of the Dutch Payments Association, began by presenting an overview of the European stakeholder landscape and the differing interests of the various groups. Tijmen Daniëls of DNB Supervision showed a PSD2 dashboard with the milestones of the past year from a supervisory perspective. Particular attention was paid to two initiatives of the Dutch Payments Association: the multistakeholder platform NISP-NL and the coordination of the introduction of SCA for online card payments. The event showed that DNB values both activities in its interactions with market participants.

Camiel Kuiper of Buddy Payment demonstrated a practical application of ‘access to account’. A simple app based on the PSD2 APIs gives users a powerful tool for managing their fixed outgoings and disposable income. Buddy works with eight municipalities on this service.

In the field of online card payments, An De Schepper of Mastercard outlined the new technology required for secure and frictionless card payments, which is a prerequisite for rolling out SCA over the next year to year and a half. Ingenico product manager Paula Costa presented the merchant perspective on this topic. The Dutch Payments Association is coordinating the forthcoming migration to SCA for card payments in the Netherlands; Marnix Blom of the Dutch Payments Association explained how the project is structured.

Under the heading ‘Beyond PSD2’, Max Geerling of the Dutch Payments Association identified several challenges in the future digital economy, in which data exchange will play a central role. The impact on economic activity will extend to every sector of the economy and will require new customer interaction models that allow customers to retain full control of their own data.
Sufficient insight is expected to be available in the first quarter of 2020 to highlight the first tangible results of PSD2 at a follow-up event.

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