/>iThe European Blanking authority (EBA) has published an opinion (EBA/Op/2017/16) on the transition from the Payment Services Directive (2007/64/EC) (PSD) to the revised Directive on payment services in the internal market ((EU) 2015/2366) (PSD2), which will apply from 13 January 2018.
The EBA clarifies a number of issues identified by market participants and competent authorities, including:
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exemptions to the immediate requirement to be PSD2 authorised;
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the re-authorisation of existing payment institutions and electronic money institutions;
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providers of account information services or payment initiation services benefiting from the exemption under Article 115(5) PSD2;
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accessing payment account information during transitional period II under PSD2;
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application of the EBA Guidelines on the security of internet payments under PSD1;
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cross-border services in the event of delayed transposition of PSD2 in a Member State; and
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the EBA’s proposed supervisory actions in 2018 to support the transition.
