PAYMENT SERVICES DIRECTIVE (PSD2) CONTEXTJohn Broxis 

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1. Implementation of PSD2, Open Banking and new APIs – potential new business models and revenue streams (and how to improve existing revenue streams)

What is Open Banking Europe2

eIDAS meets PSD2Securing Access to Financial Services with Qualified Certificates

Open Banking Europe community

1. Implementation of PSD2, Open Banking and new APIs – potential new business models and revenue streams (and how to improve existing revenue streams)

PSD2 Access to Account4

eIDAS meets PSD2Securing Access to Financial Services with Qualified Certificates

PD2 Access to Account and RTS

PSD2 Article 65, 66, and 67

Account servicing Payment Service Providers that offer online payments accounts shall allow PSUs to access accounts via regulated third parties to

• Initiate Payments• Get Account Information• Confirm available funds

Communications between the ASPSP and the TPP will be secure, and in compliance with the RTS

EBA RTS on Common and Secure Communication and Strong Customer Authentication.• ASPSPs must provide an interface

that conforms to some rules (Article 30).

• An API or an adaption of the user interface (Article 31)

• All interfaces will use eIDAScertificates for Identification, based on the registration numbers issued by national competent authorities (article 34).

eIDAS meets PSD2Securing Access to Financial Services with Qualified Certificates

Revocations & Disputes

Interfaces & SCASetup

eIDASCertificates

Registration & 

Passporting

20/03/2018

1. Implementation of PSD2, Open Banking and new APIs – potential new business models and revenue streams (and how to improve existing revenue streams)

PSD2 Challenges7

eIDAS meets PSD2Securing Access to Financial Services with Qualified Certificates

ASPSPs have the obligation to allow access to regulated entities, and block access to those that do not have access.

Failure to properly authenticate, leads to the risk of unauthorised transactions and subsequent claims under PSD2, or unauthorised data sharing and subsequent claims under GDPR.

Common understanding:• ASPSPs will use eIDAS certificates will be used for Identification

• ASPSPs will use the National registers for the Authorisation of a party, i.e. understanding if a party is regulated and what that party is authorised to do.

Granting Access

eIDAS meets PSD2Securing Access to Financial Services with Qualified Certificates

Certificate Standardisation

NCA register Harmonisation

Linking QTSPs & NCAs 

Common Directory

Four ERPB Identification challenges

eIDAS meets PSD2Securing Access to Financial Services with Qualified Certificates

Revocations & Disputes

Interfaces & SCASetup

eIDASCertificates

Registration & 

Passporting

1020/03/2018

1. Implementation of PSD2, Open Banking and new APIs – potential new business models and revenue streams (and how to improve existing revenue streams)

Authorisation and Passporting11

Revocations & Disputes

Interfaces & SCASetup

eIDASCertificates

Registration & 

Passporting

eIDAS meets PSD2Securing Access to Financial Services with Qualified Certificates

HomeMSCA 

HostMSCA 

Authorisation

Home Register

Passporting

MSCA approves/rejects AuthorisationTPP applies to Home MSCA

MSCA issues Registration NumberMSCA adds to Home Public RegisterTPP Notified of Authorisation 

TPP

TPP applies for PassportingMSCA passes request to Host MSCA.

MSCA adds to Home Public RegisterTPP Notified of Passporting

Made publicly available online 

ASPSP

Authorisation and Passporting

eIDAS meets PSD2Securing Access to Financial Services with Qualified Certificates

24.

8.

17.19.

9.

3.

12.

2.20.

11.25.

29.

30.

23.

10.33.

26.

31.

32.

1.18.

16.22.

21.

13. 27.

4.28.

6.

7.

14.

15.34.

5.

PDF Only (English), one Authorisation Number

Single Search Only (English),two Authorisation Numbers

Web format, Two Authorisation Numbers

Single Search Only (French) three Reg Numbers

x 31

[PI, EMI, Credit Institutions]

x 3

[Number of Member States]

31 national registers

eIDAS meets PSD2Securing Access to Financial Services with Qualified Certificates

Open Banking Europe actions

• Defined the set of data needed for successful access to account• Defined a unique referencing number system that is linked into the certificate standard.

• Completed a gap analysis of all 31 public registers• Held / holding bilateral meetings with NCAs

• Designed a directory to hold standardised data on all regulated players

• Developing that directory

eIDAS meets PSD2Securing Access to Financial Services with Qualified Certificates

Country Readiness heat map

1. Implementation of PSD2, Open Banking and new APIs – potential new business models and revenue streams (and how to improve existing revenue streams)

The Open Banking Europe Directory16

eIDAS meets PSD2Securing Access to Financial Services with Qualified Certificates

Example TPP: Trustly in Sweden

eIDAS meets PSD2Securing Access to Financial Services with Qualified Certificates

The Unique reference number

eIDAS meets PSD2Securing Access to Financial Services with Qualified Certificates19

Roles and Passports

eIDAS meets PSD2Securing Access to Financial Services with Qualified Certificates

Directory API

eIDAS meets PSD2Securing Access to Financial Services with Qualified Certificates

Directory: operational data

ASPSPs will use the directory to obtain operational data about TPPs (e.g. contact numbers) that are stored in the directory.

TPPs will use the directory to obtain operational data about ASPSPs (e.g. developer portals, contact numbers) that are stored in the directory.

eIDAS meets PSD2Securing Access to Financial Services with Qualified Certificates

Revocations & Disputes

Interfaces & SCASetup

eIDASCertificates

Registration & 

Passporting

20/03/2018