About PSD2
What is PSD2?
PSD2 is a European regulation for electronic payment services. It seeks to make payments more secure in Europe, boost innovation and help banking services adapt to new technologies. PSD2 is evidence of the increasing importance Application Program Interfaces (APIs) are acquiring in different financial sectors. Overall Open-banking documentation can be found at the official Berlin group NextGenPSD2 documentation download web-page.
Key aspects of PSD2 include:
- Stronger security requirements for electronic payments
- Protection of consumers' financial data
- Opening up of banks' APIs to third-party providers
- Regulation of new types of payment services
Service versions explanation
We provide 2 versions 0.8 and 1.3. 0.8 version is a standard for NextGenPSD2 XS2A Framework Georgia Conformity. While 1.3 is a version for all european countries. To know which version to use is to answer a question if You need to standarize to a National Bank of Georgia or to a European Union newest standard
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