Norfico is proud to have produced the official – and world's largest – fintech magazine for Money20/20 Europe – the world's leading fintech event.
The magazine contains in-depth feature articles within the following themes: Future Finance, PSD2 – Towards Open Banking, Payments & Commerce and Emerging Fintech Hubs
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The Tricky Encounter
- a Norfico PSD2 White Paper
According to the new Payment Services Directive 2 (PSD2), all European banks (or ASPSP) must have their APIs ready and they have to be able to grant Third Party Providers (TPPs - AISPs and PISPs) access to the bank customers' payment accounts (XS2A).
This encounter between the ASPSPs and the TPPs is a tricky encounter that raises a lot of questions.
Nobody else seems to have given this interesting and problematic corner of PSD2 much (or any!) attention, and since time is for sure a scarce resource, we find it necessary to point out the challenges associated with this encounter between the banks and the TPPs.
Basically, the question is how these new encounters between banks and the TPPs will play out in practice?
Read the white paper here