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. | - |
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. | - |
QWAC | Qualified Website Authentication Certificate | Certficate used to secure the communication (mTLS). | - |