KCN European Union to adopt Revised Payment Service Directive
Channel: KCN News
Date: 2017-08-14

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The European Union is developing fintech technology, keeping the security of the existing infrastructure. In January 2018 the Revised Payment Service Directive (PSD2) will be adopted. It is aimed at protecting the consumers’ rights and strengthening the competitive market. According to this new regulatory document, financial services will be provided not only by banks. These rules for providing access to banking API are already used by some startups, which are able to connect to banking data, verify accounts and access transactions in real-time. This new PSD2 guidance pays a lot of attention to blockchain technology which will help to better protect financial data and enable banks to provide transactions in real-time. 
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