PSD2 is the EU Directive 2015/2366 on payment services in the internal market, published in the Official Journal on 23 December 2015. Its objective is to open access to bank systems to TPP in order to further enhance consumer protection and convenience, to improve the security of payment services and to promote innovation and competition.

AIS: Account Information Services

AISP: Account Information Service Provider

ASPSP: Account Servicing Payment Service Provider providing and maintaining a payment account for a PSU

CBPII: Card-based Payment Instrument Issuer (formerly PIISP: Payment Instrument Issuer Service Provider)

NCA: National Competent Authority

PIS: Payment Initiation Services

PISP: Payment Initiation Service Provider

PSD2: Directive (EU) 2015/2366 on payment services in the internal market

PSP: Payment Service Provider

PSU: Payment Service User

RTS: Commission Delegated Regulation (EU) 2018/389 with regard to regulatory technical standards for strong customer authentication and common and secure open standards of communication

SCA: Strong Customer Authentication

TPP: Third-Party Provider, i.e. AISP, PISP and CBPII

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