PSD2 support

What is PSD2?

With the PSD2 EU Directive - the 2nd Payment Services Directive - the European Union regulates the interaction between so-called TPPs (Third Party Provider; e.g. a fintech company) and banks through APIs.

This page documents to what extent and in what role Airlock Gateway and IAM can support banks in implementing PSD2 standards.

Supported PSD2 Standards

There exists several frameworks standardizing how to fulfill PSD2 requirements (e.g. NextGenPSD2, STET, Open Banking Standard, etc.). Support of the frameworks in Airlock mainly depends on Airlock IAM's features.

Details about support each framework, .

Important terms

The following PSD2-specific terms may be used in this documentation and/or in PSD2 specifications.

Term

Acronym for

Description

Used as synonym in this documentation

PSD2

Second Payment Service Directive

EU law regulating interaction between banks and TPPs.

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TPP

Third-Party Provider

fintech company

AISP

Account Information Service Provider

A TPP providing e.g. a consolidated account overview over multiple banks to users.

fintech company

PISP

Payment Initiation Service Provider

A TPP initiating payments in the bank on behalf of the user.

fintech company

ASPSP

Account Servicing Payment Service Provider

Financial institution offering payment accounts (bank accounts, credit card accounts)

bank

PSU

Payment Service User

End-user of the payment services provided by a TPP.

end-user, customer

EBA

European Banking Authority

The European banking authority.

QTSP

Qualified Trust Service Provider

Trust center issuing qualified certificates for TPPs according to eIDAS.

SCA

Strong Customer Authentication

Authenticate end-users based on two factors.

Strong authentication, 2-factor authentication

eIDAS

electronic Identification, authentication and trust services

eIDAS regulates electronic identification and trust services for electronic transactions in the EU.

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QWAC

Qualified Website Authentication Certificate

Certficate used to secure the communication (mTLS).

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