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The purpose of PSD2

 

The main objectives of the revised directive

PSD2, as transposed into Belgian law, aims to provide for the further development of an enhanced and integrated internal market for electronic payments within the EU. It provides an extensive framework for payment services, with the objective of making payments within the EU more secure and effective. It will provide greater protection for consumers by increasing security measures for electronic payments. It pursues to open payment markets to new entrants, by encouraging more competition, providing greater choice and competitive prices for consumers. Ultimately this lays the foundations needed to accelerate the build of an ecosystem that will support an integrated and efficient European payments market.

 

Core objectives

  • Provide for a single, efficient European payments market for retail payment transactions and contribute to an integrated and efficient European payments market, reducing market deficiencies, exemptions and creating the prerequisites for the digitisation of the payments industry
  • Improve the level playing field for all payment service providers and boost competition as well as build the foundation to provide equal opportunities to all payment service providers
  • Enhance & improve client protection & the security a of payments by increasing transparency, efficiency and security of retail payments
  • Reduce Total Cost of Ownership in the payments value chain, increasing competition, encouraging lower prices for clients and setting benchmarks

 

The KBC website also offers further information on PSD2.

 

Opening the market

What are Third Party Providers (TPPs)?

PSD2 and the Belgian law transposing PSD2 define the concepts of Account information service provider (AISP), Payment initiation service provider (PISP), Payment service provider issuing card-based payment instruments (CISP) or technical service provider (TSP). “Third party service provider (TPP)” is a more general term covering all third parties previously mentioned.
Who can act as a TPP? It can be for example a bank, financial software provider, retailer, telco, fintech. 

Acronym Term Definition
PSU Payment Service User Is a natural or legal person making use of a payment service as a payee, payer or both
ASPSP Account Servicing Payment Service Provider Provides and maintain a payment account for a payer
AISP Account Information Service Provider

Provides an account information service as an online service

Provide consolidated information on one or more payment accounts held by a payment service user with one or more payment service provider(s)

PISP Payment Initiation Service Provider

Provides a ‘payment initiation service’ being a service

Initiate a payment order at the request of the payment service user with respect to a payment account held at another payment service provider

CBPII Card Based Payment Instrument Issuer
Is a payment service provider
That issues card-based payment instruments
That can be used to initiate a payment transaction from a payment account held with a third account servicing payment service provider

 

Availability and performance

Availability:

  • The uptime of all interfaces
  • The downtime of all interfaces (planned)
  • The downtime of all interfaces (unplanned)

Performance:

  • The time taken for the ASPSP to provide to the payment initiation service provider (PISP) all information on the initiation of the payment transaction
  • The time taken for the ASPSP to provide to the account information service provider (AISP) all payment related data
  • The time taken for the ASPSP to provide to the card based payment instrument issuer (CBPII) and PISP a yes/no message

Availability and performance statistics 

April - Customer Interface

               Availability Statistics                                                       Performance Statistics

Date Uptime
(%)
Downtime
 (%)
Mobile Interface
millisecs
Browser Interface
millisecs
Mobile Error
response rate
Browser Error
response rate
1/04/20 99.99 0.01 246 753 0.00% 0.00%
2/04/20 99.99 0.01 224 725 0.00% 0.00%
3/04/20 99.99 0.01 223 753 0.00% 0.00%
4/04/20 99.99 0.01 199 662 0.00% 0.00%
5/04/20 99.99 0.01 268 635 0.00% 0.00%
6/04/20 99.99 0.01 225 775 0.00% 0.00%
7/04/20 99.99 0.01 236 734 0.00% 0.00%
8/04/20 99.99 0.01 204 724 0.00% 0.00%
9/04/20 99.99 0.01 227 732 0.00% 0.00%
10/04/20 99.99 0.01 219 709 0.00% 0.00%
11/04/20 99.99 0.01 325 674 0.00% 0.00%
12/04/20 99.99 0.01 222 657 0.00% 0.00%
13/04/20 99.99 0.01 290 727 0.00% 0.00%
14/04/20 99.99 0.01 249 708 0.00% 0.00%
15/04/20 99.99 0.01 227 715 0.00% 0,00%
16/04/20 99.99 0.01 220 726 0.00% 0.00%
17/04/20 99.99 0.01 226 669 0.00% 0.00%
18/04/20 99.99 0.01 202 696 0.00% 0.00%
19/04/20 99.99 0.01 233 640 0.00% 0.00%
20/04/20 99.99 0.01 206 669 0.00% 0.00%
21/04/20 99.99 0.01 214 687 0.00% 0.00%
22/04/20 99.99 0.01 224 713 0.00% 0.00%
23/04/20 99.99 0.01 210 675 0.00% 0.00%
24/04/20 99.99 0.01 235 719 0.00% 0.00%
25/04/20 99.99 0.01 203 743 0.00% 0.00%
26/04/20 99.99 0.01 212 636 0.00% 0.00%
27/04/20 99.99 0.01 226 665 0.00% 0.00%
28/04/20 99.99 0.01 204 756 0.00% 0.00%
29/04/20 99.99 0.01 234 699 0.00% 0.00%
30/04/20 99.99 0.01 204 689 0.00% 0.00%

April - Dedicated Interface

               Availability Statistics                                                       Performance Statistics

Date Uptime
(%)
Downtime
 (%)
AISP Response
millisecs
PISP Response
millisecs
CBPII Response
millisecs
AIS Error
response rate
PIS Error
response rate
CBPII Error
response rate
1/04/20 100 0 156 233 n/a 0.86% 0.00% n/a

2/04/20

100 0 150 255 n/a 0.64% 0.00% n/a
3/04/20 100 0 148 363 n/a 0.84% 0.00% n/a
4/04/20 100 0 133 269 n/a 0.38% 0.00% n/a
5/04/20 100 0 138 251 n/a 0.70% 0.00% n/a

6/04/20

100 0 151 770 n/a 0.77% 0.00% n/a
7/04/20 100 0 149 182 n/a 0.66% 0.00% n/a
8/04/20 100 0 152 178 n/a 0.70% 0.00% n/a
9/04/20 100 0 154 217 n/a 0.57% 0.00% n/a
10/04/20 100 0 130 158 n/a 1.08% 0.00% n/a
11/04/20 100 0 130 193 n/a 0.28% 0.00% n/a
12/04/20 100 0 125 194 n/a 0.34% 0.00% n/a
13/04/20 100 0 126 171 n/a 0.80% 0.00% n/a
14/04/20 100 0 149 142 n/a 0.75% 0.00% n/a
15/04/20 100 0 137 120 n/a 0.76% 0.00% n/a
16/04/20 100 0 183 122 n/a 0.61% 0.00% n/a
17/04/20 100 0 140 129 n/a 0.45% 0.00% n/a
18/04/20 100 0 127 112 n/a 0.58% 0.00% n/a
19/04/20 100 0 125 115 n/a 0.50% 0.00% n/a
20/04/20 100 0 144 138 n/a 0.68% 0.00% n/a
21/04/20 100 0 135 124 n/a 0.71% 0.00% n/a
22/04/20 100 0 132 124 n/a 0.48% 0.00% n/a
23/04/20 100 0 133 199 n/a 0.62% 0.00% n/a
24/04/20 100 0 134 134 n/a 0.78% 0.00% n/a
25/04/20 100 0 126 116 n/a 0.65% 0.00% n/a
26/04/20 100 0 125 115 n/a 0.45% 0.00% n/a
27/04/20 100 0 150 189 n/a 0.52% 0.00% n/a
28/04/20 100 0 239 112 n/a 0.74% 0.00% n/a
29/04/20 100 0 199 181 n/a 0.81% 0.00% n/a
30/04/20 100 0 191 612 n/a 0.59% 0.00% n/a

Glossary

Dedicated Interface: third-party connection to KBC's APIs

AISP: account information service provider

PISP: payment initiation service provider

CBPII: card based payment instrument issuer

Customer interface: customer connection to KBC's online banking applications

API: application programming interface

Error response rate: the ratio between the number of errors and the total number of requests

 

If you have any questions, do not hesitate to contact us at psd2@kbc.be 

The KBC website also offers further information on PSD2.

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