Effects of the revised Payment Services Directive : first assessment

Abstract

In retail banking, the two key services are the provision of credit and management of payment transfers. The revised Payment Services Directive (PSD2), which regulates payment transfers, entered into force in Finland for the most part in January 2018. The purpose of PSD2 is to increase competition, and it has been prepared with the consumer’s interests in mind. In addition to benefits, the revised Directive involves also risks and uncertainties.