Updated 5/9 2019: The Danish Financial Supervisory Authority (Finanstilsynet) has decided to postpone the hard deadline for Danish compliance with PSD2 until 14th of March, 2021. This extension of the implementation period only applies to online card payments.
The Revised Payment Services Directive (PSD2) is a stricter requirement for financial institutions under the eIDAS Regulation.
The purpose of PSD2 is to increase transparency and the free choice of supplier of financial products between European countries and to secure the consumer through Strong Customer Authentication (SCA).
Here is a 2-minute visual explanation of PSD2:
Qualified Certificates will now be required
One of the essential parts of PSD2 is the requirement for Qualified Certificates. As one of very few European organizations, TRUSTZONE A/S is able to provide Qualified Certificates to both Third Party Providers (TPP) and Payment Service Providers (PSP).
There are two different types of certificates:
• Qualified Website Authentication Certificate (QWAC)
• Qualified Certificate for Seals (QSEAL)
In our experience, most financial institutions need both types of certificates to become 100% PSD2 compliant.
Our recommendation: Review your upcoming certificate needs as soon as possible
We hope that the extension of the current implementation period won’t spur complacency. Instead, we strongly encourage all companies, organizations and financial institutions who aren’t yet compliant to contact us. Our experts can help clarify which certificates you need.
Contact us today for free and competent advice on PSD2 and how we can help you get compliant: