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Banks and third party providers agree on joint efforts regarding the transition to new payment rules


On 26 July, representatives of three European Credit Sector Associations (European Banking Federation, European Association of Co-operative Banks, European Savings and Retail Banking Group) and of two third party providers (the European Third Party Providers Association and the Financial Data and Technology Association) signed a Joint Statement to facilitate the application of the requirements for secure open standards of communication between banks and third party providers (TPPs) as set out in second payment services directive (PSD2) and the RTS on strong customer authentication and common and secure communication, which the Commission adopted on 27 November 2017 (Commission Delegated Regulation (EU) 2018/389). Those requirements become applicable as from 14 September 2019.

The Commission welcomes the Joint Statement which contains pragmatic mutual commitments by banks and TPPs showing that they work hand-in-hand to ensure business continuity in payments.