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By Antoine Van den Bulcke, Adviser, Banking Technologies Payments – ABBL
On 13 January 2018, the second edition of the Payment Services Directive will enter into force as long as the Luxembourg legislator votes the draft law within the prescribed deadlines. The new legal framework will be supplemented over time by the implementation of a set of technical specifications to be complied with (the “Regulatory Technical Standards”). In addition to extending the scope of the first edition, the new legislation introduces new innovative services for the benefit of users as well as payment service providers (PSPs).
The critical point for traditional providers is that they will have to allow the new PSPs – the Third Party Payment Service...
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