What is PSD2? How does ir apply to ECOMMPAY and merchants?
PSD2 is the payment service directive number 2015/2366 / EU (Payment Services Directive 2) adopted by the European Parliament and Council, which terminates the first payment service directive and provides a new legal basis for the provision of payment services within the European Economic Area. The main objectives of the new Directive are to:
promote further integration and optimisation of the European payment services market;
ensure equal conditions for money transfer operations, including for new market participants;
increase the security of the payment infrastructure; ensure consumer protection;
and assist in reducing tariffs and fees for the provision of payment services. ECOMMPAY is fully compliant with PSD2.