The arrival of the new PSD2 directive ushers in great improvements in online payments within the single market that exists in the European Union. A measure that will be implemented on September 14, the main goal of which is to make online payments more secure. Another important aspect is the access to consumer information that banks will have to request from TPPs or, in other words, those companies that provide services to third parties (with the consumer's prior consent).
Until now, the latter's access to payment markets was complicated. This regulation gives them a more prominent role in the sector, thus increasing the number of options available to consumers. They will also offer their customers added value with additional services that make life easier. They will have to comply with the same rules as traditional suppliers: registration, authorization and oversight by the relevant authorities. They are also required to enhance their security measures, since one of the tenets of PSD2 is to protect banking operations.