Translations for the PSD2

PSD2 (Payment Services Directive 2) is the new version of the European PSD from 2007. With the new PSD2 legislation more companies and payment institutions will have access to payment transactions information. On 19 February 2019 PSD2 officially took effect, however from 14 September 2019 the so-called technical standards are applicable (RTS or Regulatory Technical Standards). This outlines what techniques companies in, for instance, fintech can use to obtain access to the data of a payment account. From the said date payment institutions like banks must make their interfaces available to third parties, in the manner determined by the RTS. This means that effective from the said date information must be made available to customers.

Our clients are also busy with the preparations. This follows from the considerable increase in translations of privacy statements, general terms and conditions, and payment conditions.