> For the complete documentation index, see [llms.txt](https://docs.ecommerce.seb.ee/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.ecommerce.seb.ee/compliance/psd2-second-payment-services-directive.md).

# PSD2 (Second Payment Services Directive)

The European payment-services framework that strengthens payment security, supports Open Banking, and improves consumer protection.

PSD2, the Second Payment Services Directive (Directive (EU) 2015/2366), established a common legal framework for payment services across the European Economic Area. It strengthened security requirements for electronic payments, expanded consumer protections, and enabled regulated Open Banking services.

PSD2 built on the original Payment Services Directive and updated the EU payment-services framework for digital and mobile payments and for the growing role of regulated third-party providers.

### What PSD2 aims to achieve

* Enhance consumer protection through stronger security and greater transparency.
* Promote competition and innovation by enabling regulated third-party payment services.
* Increase the security of electronic payments, particularly online and mobile payments.

### Key components of PSD2

#### Open Banking

PSD2 enables authorized third-party providers to access payment accounts through secure interfaces with the customer’s consent. The framework includes Account Information Service Providers (AISPs) and Payment Initiation Service Providers (PISPs).

#### Strong Customer Authentication (SCA)

PSD2 introduced Strong Customer Authentication for payment scenarios covered by the regulation. SCA uses at least two independent factors from the categories of knowledge, possession, and inherence. For online card payments, SCA is commonly supported through EMV 3DS; for Open Banking payments, authentication is typically completed by the customer’s bank.

#### Consumer rights and transparency

PSD2 also strengthens requirements around payment information, unauthorized transactions, and the rights and obligations of payment-service users and providers.

### Merchant impact

For merchants, PSD2 primarily affects how certain online payments are authenticated. [Strong Customer Authentication (SCA)](/compliance/strong-customer-authentication-sca.md) is a regulatory authentication requirement under PSD2 for in-scope electronic payments.

Authentication and authorization are separate stages. For card payments, the card issuer makes the final authorization decision. The issuer also determines the authentication outcome and whether an applicable SCA exemption is accepted.

For online card payments, [EMV® 3-D Secure (EMV 3DS)](/payment-methods/cards/emv-r-3-d-secure-emv-3ds.md) is commonly used to support SCA. For [Open Banking](/payment-methods/pay-by-bank.md) payments, customer authentication is typically completed through the customer’s online or mobile banking application.

Certain transactions may qualify for regulatory exemptions or may be outside the scope of SCA, subject to applicable regulations.

See [Strong Customer Authentication (SCA)](/compliance/strong-customer-authentication-sca.md) for authentication factors, applicability, and exemptions, and [EMV® 3-D Secure (EMV 3DS)](/payment-methods/cards/emv-r-3-d-secure-emv-3ds.md) for the card-payment authentication flow.

### Why PSD2 matters

PSD2 provides the regulatory foundation for secure electronic payments and Open Banking in the EEA. It supports new payment experiences while setting common security and consumer-protection requirements across the market.

### Related Documentation

* [Strong Customer Authentication (SCA)](/compliance/strong-customer-authentication-sca.md)
* [EMV® 3-D Secure (EMV 3DS)](/payment-methods/cards/emv-r-3-d-secure-emv-3ds.md)
* [Open Banking](/compliance/open-banking.md)


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