What is a PSD in banking?
In the European banking and regulatory landscape, PSD stands for the Payment Services Directive, which is a series of European Union legislative acts designed to regulate payment services and payment service providers throughout the European Economic Area. The directive aims to increase pan-European competition and participation in the payments industry, enhance consumer protection, strengthen security standards for electronic payments, and foster innovation through open banking frameworks. Compliance with PSD mandates requires financial institutions to implement strict customer authentication protocols and secure API standards for third-party payment providers.
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