PSD: Payment Service Directive
Dec 3rd, 2007 by Jesper Kråkhede
PSD, Payment Service Directive is a very interesting directive from EU regarding opening up for payment flows all over EU. Read more here: http://register.consilium.europa.eu/pdf/en/07/st03/st03613-re02.en07.pdf
This of course will create changes in the current systems on how money is tranfered within EU today. From my point of view the possible need for changes in the security organization is very interesting due to the fact that many changes that this will create for the IT-systems. If the following post I will try to identify some of the bigger changes that this creates.
All entities that are affected by this directive sure has a lot of work to be done. In some cases more then in other. Here is a list from the directive showing affectred entities:
(a) credit institutions within the meaning of Article 4(1)(a) of Directive 2006/48/EC;
(b) electronic money institutions within the meaning of Article 1(3)(a) of
Directive 2000/46/EC;
(c) post office giro institutions which are entitled under national law to provide payment
services;
(d) payment institutions within the meaning of this Directive;
(e) the European Central Bank and national central banks when not acting in their
capacity as monetary authority or other public authorities;
(f) Member States or their regional or local authorities when not acting in their capacity
as public authorities.