PSD2

What is PSD2?

The second Payment Services Directive is the revised version of an EU-Directive from 2007, which streamlined the European payments market and laid the lega...

When does PSD2 come into force?

The payment service directive came into German law since January 2018 and has to be implemented by all banks until the 14th of September.

What does PSD2 have to do with me?

Broadly speaking, the impact on you as a customer of Penta is twofold: increased security for login and online card payments and better access for third par...

Why do I need to verify my Penta Login with a TAN?

A new banking regulation called PSD2 (Payment Services Directive) requires that a login to a bank account needs to be confirmed via two factors. Hence, ...

What impact does PSD2 have on online card payments?

Making card payments of 30€ or more online will require a two factor authentication, just like the SEPA transfer already does today. The online card payment...

What are third party providers?

“Third parties” are non-banks that provide payment initiation and account information services.  A third-party service provider could be a fintech company,...

What are payment initiation service provider?

If you make a purchase online, you can use a payment initiation service provider specified on the seller’s website to settle the payment. Provided that you ...

What is an account information service provider?

If you permit, account information service providers call up your account information from the last 90 days (e.g. transactions, balances and items scheduled...

Do I have to give third party payment service provider access to my account?

No, you do not have to grant third-party payment service providers access to your account – PSD2 gives you the right to use the services offered by a new p...

How can a third party provider access my account?

All banks (in our case, the solarisBank) establish an API access point for certified third party providers. With this API, service providers can: See inf...