The Payment Service Directive 2, or PSD2, is a new set of regulations pertaining to the European market. It was created to improve the existing EU rules for electronic payments and better integrate payment services across the European Union. Part of that involves increasing the level of protection for consumers when they make electronic payments that go through the European Economic Area (EEA) in any capacity.
If your company processes any payments in Europe, it will need to prepare for these new rules that will take effect on December 31, 2020.
