› This revised directive on payment services is designed by European Commission to regulate payment protocols around the European Union

› PSD2 focuses to improve innovation and the security of Internet payments, access to the account within the EU and EEA and strenghten consumer rights

› PSD2 enables users to initiate payment through third party provider (TPP) without need to use credit card company

› With Account Information Service Provider (AISP) users can analyze consumption or collect data from several banks accounts into one review

› It will allow third parties to gain access to your account information and payments directly from your bank account(s), with your permission

PISP

› Enables users to initiate payment using third parties, in short, payment initiation service is defined as a service to initiate a payment order at the request of a PSU (user) towards payment account held at ASPSP (bank)

› Payment initiation services enable the PISP to provide comfort to a payee that the payment has been initiated, as an incentive to the payee to release goods or deliver a service without undue delay.

AISP

› Account Information Service Provider - a service that has access to bank account information

› It can analyze consumer spending or gather data from multiple bank accounts into one review