On 14 September 2019, the second wave of the provisions of the
European Payment Services Directive 2 (PSD2) will enter into force throughout the European Economic Area ("EEA").
It aims to:
- Increase the security level of your payments.
- Ensure better protection of your data.
- Allow account information service providers ("Aggregators") to access and collect information about your payment accounts, if you give them permission.
- Authorize payment initiation service providers to initiate payments on your behalf if you authorize them to do so.