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Deutsche Bank’s Shahrokh Moinian explores the global implications of the EU’s new Directive on Payment Services, in the Asian Banker

On 13th January 2018, the second European Directive on Payment Services, or PSD2 as it is more commonly referred to, will come into application.

With a just under a year to go until implementation, Shahrokh Moinian, Deutsche Bank’s Global Head of Cash Management Corporates, explores PSD2’s potential impacts in the Asian Banker.

“PSD2 is much more than a regulatory update. It will have widespread implications – both in Europe, and beyond.” By licensing third party payment providers in the EU, and obliging banks to offer these new players enhanced access to customer account information (via a new “third party interface”), PSD2 will generate competition and a new wave of innovation in the payments market. If open API’s are used to build the new interface between third parties and traditional market players, PSD2 could even catalyse a new era of open banking.

To read the full article, please click here.

 

 

 

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