The second Payment Services Directive, or so-called PSD2 requirements will come into force on September 14th, 2019. With this deadline approaching, we have decided to examine this matter from the merchandiser’s perspective. In brief, PSD2 is an initiative from the EU aimed at regulating the e-payment environment where banks and fintechs (Third Party Service Providers – TPSPs) currently operate in a largely disorganized manner. There is no consistent, standardized or regulated framework that defines the cooperation between banks and TPSPs. The bank may refuse access by a TPSP to its client’s bank account, preventing the same client or merchandiser from using the TPSP’s services, which may be more convenient or less costly than banking services. To regulate the e-payment market, PSD2 will force banks to grant third-party access to their clients’ bank accounts. Equally important, TPSPs will be regulated – they will have to obtain a license and…