The EACB welcomes the opportunity to participate in the consultation launched by the European Banking Authority regarding the Discussion Paper on strong customer authentication and secure communication under PSD2.
The EACB fully endorses the aims of the PSD2 especially to increase innovation in payments and to make payment more convenient. We fully recognize that by leveraging the creativity of third parties (esp. “FinTech”s), these aims may potentially be achieved quicker than by each Account Servicing Payment Services Provider (ASPSP) pursuing its own development.
Since there is general agreement that the introduction of third party payment providers clearly must be done in a fair, secure, scalable, non-fragmented way without compromising the authentications measures designed by ASPSP and the credentials provided to the Payment Service User (PSU) in this context, we very much welcome the opportunity to share our views on how this can best be achieved.