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What is PSD2?

On 24 July 2013, the European Commission published a legislative package that included a proposed revision to the Payment Services Directive (DSP2). This new, modernised legislative framework takes account of technological developments and new use cases that have emerged in the payment market since PSD1 was adopted in 2007 (continued growth in e-commerce, development of m-commerce etc.).

The trust that French people place in their banks is based on the security of the payment methods they provide. This is why banking institutions invest continuously in securing payments on a large scale. The directive requires strong authentication (proof of identity) for payments of over 30 euros.