FinTech: PSD II - Status And Bank Cooperation In Norway

The new Payment Services Directive - PSD II, was published in the Official Journal on 23 December, 2015, with a deadline for implementation set to 13 January 2018. The objective of the new directive is to modernize the payment services area, and facilitate consumer friendly solutions. The new directive poses serious challenges to the traditional banking model.

The Payment Services Directive (Directive 2015/2366 / EC - "PSD II") was formally adopted on 25 November, 2015, and published in the Official Journal on 12 December, 2015. The directive replaces Directive 2007/64 / EC (PSD I). The member states have a two-year implementation deadline, 13 January, 2018. The directive must be read in conjunction with the Council Regulation (EU) 2015/751 on interbank fees for card-based payment transactions.

The purpose of the directive is to modernize the regulatory framework for payment services and to promote innovation. Furthermore, the EU wishes to...