In recent weeks you may have received an email from your bank stating that the new European Digital Payments Regulation (PSD2) has begun to apply.

 

On November 24, the EBO, the Official State Gazette, published the Official Decree-Law 19/2018 on payment services and urgent measures in the area of ​​finance. In this way, the transposition of the Directive 2015/2366, one of the digital payment services, known as PSD2 acronym in English (Payment Directive Services 2), was set as the date of its application on 14 September 2019.

 

Its English acronym recalls the name of a console or video game, but it is actually a European directive on digital payment channels that enhances security and enhances protection in operations, also facilitating what is known as "Open Banking" in a consumer-facing universe. that puts it in terms of its finances.

 

Ultimately, the goal of PS2D is to make payments easier, faster and more secure, but also for different financial agents to provide innovative products and services that are tailored to customer needs. Immediate consequence: the reduction of the mediators and therefore also the cost.

José María Viñals is a professor of Digital Innovation in Nursing and Fintech. Accordingly, the new directive marks an earlier and later one in the world of payments. "PSD2 will be a major change in our lives, as it will reshape the payments sector at European level," he says.