Cyber Security Terms

Payment Services Directive (PSD 2)

Edward Kost
Edward Kost
updated Nov 07, 2021

What is the Payment Services Directive (PSD 2)?

The Payment Services Directive (PSD 2) is a European directive for preventing monopolization in the banking sector.

The PSD 2 includes cybersecurity controls to ensure its baking sector multiples securely.

Key takeaways

  • Check icon
    All financial institutions in the European Union must comply with PSD 2.
  • Check icon
    Non-compliance could result in a fine of up to EUR 20.000.000 or 4% of annual revenue (whichever is greater).
  • Check icon
    Under the PSD 2, financial services must implement strong customer authentication policies, such as multi-factor authentication.
  • Check icon
  • Check icon
Reviewed by
No items found.
UpGuard customer support teamUpGuard customer support teamUpGuard customer support team

See UpGuard In Action

Book a free, personalized onboarding call with one of our cybersecurity experts.

More from our blog

Learn more about the latest issues in cybersecurity.
Deliver icon

Sign up for our newsletter

Stay up-to-date on everything UpGuard with our monthly newsletter, full of product updates, company highlights, free cybersecurity resources, and more.
Free instant security score

How secure is your organization?

Request a free cybersecurity report to discover key risks on your website, email, network, and brand.
  • Check icon
    Instant insights you can act on immediately
  • Check icon
    Hundreds of risk factors including email security, SSL, DNS health, open ports and common vulnerabilities
Website Security scan resultsWebsite Security scan rating