About PSD2

What is PSD2?

PSD2 (Payment Services Directive 2) is a European regulation for electronic payment services. It is designed to:

• Enhance the security of electronic payments.
• Encourage innovation in financial services.
• Adapt banking systems to new technologies.
• Protect consumers' financial data.

PSD2 highlights the growing importance of Application Programming Interfaces (APIs) in the financial sector, paving the way for open banking. For comprehensive details, refer to the official Berlin group NextGenPSD2 documentation download web-page.

Key aspects of PSD2:

• Stronger security: Implements stricter requirements for electronic payments.
• Consumer protection: Safeguards users' financial information.
• API accessibility: Requires banks to open APIs to third-party providers.
• Regulation of new services: Governs new types of payment services.

Service versions

We provide two service versions: Version 0.8:

• Aligns with the NextGenPSD2 XS2A Framework for Georgia.
• Use this version if you need to comply with standards set by the National Bank of Georgia.

Version 1.3:

• Complies with the latest European PSD2 standards.
• Use this version if you need to adhere to EU-wide regulations.

How to choose the right version

• If your integration is specific to Georgia, use Version 0.8.
• For compliance with the broader European Union standards, choose Version 1.3.

Service availability and environments

Feature	v0.8	v1.3
Strong Customer Authentication (password and mobile device confirmation)	✅	✅
Account Information Service (AIS)	✅	✅
Payment Initiation Service (PIS)	✅	✅
Confirmation of Funds Service (PIIS)	❌	❌ (Work in Progress)
Signing Baskets Service (SBS)	❌	❌
Product type domestic	✅	❌
Product type foreign	✅	❌
Product type target-2-payments	❌	✅
Product type sepa-credit-transfers	❌	✅
Product type instant-sepa-credit-transfers	❌	✅
Product type cross-border-credit-transfers	❌	❌
Payment type = payments	✅	✅
Payment type = bulk-payments	❌	❌
Payment type = periodic-payments	❌	❌
Production Environment	✅	✅
Sandbox Environment	❌ (Work in Progress)	❌ (Work in Progress)

Prod base url: https://open-banking-api.paysera.com