The PSD2 aims at enhancing consumer protection, promoting innovation and improving the security of payment services within the EU. What does it mean: Standardize security and distribution for payment. Account information is a spin-off. A technical API was put on ice. Berlin Groups API has 80% take up. Consists of two parts * PISP - initiate a payment on behafe of a customer. Tranfer money imideately, without using a card-scheme. PSD2 regualte the responsibilty, data protection, security, open communication, information sharing, limitations and insurance. To do a payment you need be lisensed (konsesjon) * AISP - account information. Offers a standarizzed information about a customers payments accounts. Somewhat simpler requiremntes to become an AISP, access to accounts, and data protection. Easier to get a lisense. Two perspectives: Complience vs. new business opportunities Effects: - standardization of interfaces - banks starts with open banking beyound complience - fintech: Payment, personal finance management PISP challenges Visa/MC - Initiate payments from the same user interface, regardless of bank - visa /mc electronic cards, - what does the consumer care about. NOTE: A payment is a context choosen by a customer An extreme importen driver for the bank and finance industry. Have triggered a set of challenges that otherwise would have taken time. Banks are generally delivering the same business servcies as they did a houdred years ago. Most of the digitalization is ahead of us. PSD2 will deliver a more common ground. PSD2 have acellerated FinTech.