DSP2/PSD2

PSD2 (the second Payment Services Directive, DSP2 in French) is Directive (EU) 2015/2366, applicable since 2018. It pursues two objectives. First, to open access to account data to licensed third-party providers, with the customer's consent, which is the basis of open banking. Second, to strengthen payment security by requiring strong authentication. It is also the text that sets the regime for unauthorized transactions: the provider must refund immediately, the user's gross negligence being argued only afterwards. Its Articles 69, 73 and 74 are the ones courts apply today in cases of transfer fraud.