Soon the PSD2 (Payment Services Directive) will be implemented in European Union countries. It will completely change the market of modern payment services. The new regulations will give consumers access to information about their own finances, such as account balance or recently performed transactions without logging on to the electronic banking platform. The data on behalf of the user, of course, after the prior consent of the user, will be able to download the application provided by third parties.

- The banks will also have the opportunity to prepare a transaction system which, in a way, aggregates data from all my banks where I have accounts. The whole of my financial situation will be shown to me in one place - says Marek Lesiak, president and director of Efigence technology and adds. - The level of security will practically not change. The data will not be maintained in external entities. The banks will still be responsible for maintaining transactionality and all data. External entities will only be responsible for the presentation layer. They will collect information from banks and present it in the system.

Digital payments market

PSD2 is Directive 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market. Its aim is, on the one hand, to increase competitiveness, transparency and revolutionise the digital payments market while at the same time increasing its security, and on the other hand, to open up banks to wider cooperation with third parties.

- Changes may also affect the e-commerce market. For the customer it may change that in the future he will not have to log in to his bank to make a transfer for items bought in an online store. There will be entities that will take over the mediation of these transactions. On behalf of the customer and, of course, with his consent, they will make a transfer to the online store - explains Marek Lesiak.