PSD2

PSD2 is a directive introduced by the European Parliament to harmonize payment regulations within the European Union.

PSD2: what are the new European directives for payment solutions?

Related definitions

SEPA

SEPA is the Single Euro Payment Area set up by European institutions in 2002 to simplify and harmonize payment procedures

ISO 20022

International standard used for the exchange of financial data (payments, direct debits) between companies and banks, or between financial institutions.

SCI

SCI stands for SEPA Creditor Identifier. All creditors wishing to issue SEPA direct debits must have an SCI enabling them

IBAN

The IBAN (International Bank Account Number) is the international identifier of a bank account at a financial institution in a…

SEPA zone

The SEPA comprises 36 member countries: the 28 countries of the European Union, the 5 European micro-states, …

STP (Straight Through Processing)

Straight-through processing (STP) is an automated transaction processing process that uses only electronic transfers, with no manual intervention, …

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