Among other things, the payment services directive enables consumers to use applications other than those provided by their own banks to manage accounts and make payments, and to do so as safely as possible.

The implementation of the directive also aims to increase data security and to prevent any unauthorised use, such as payment fraud carried out using online identity theft. The legislation calls for strong authentication of the customer and for payment confirmation. The aim is to create a consistent practice for customers in their own bank’s services and in third-party applications.

Improving the safety of online purchases means strong authentication will be introduced to almost every payment that takes place online. Strong authentication means that the user is identified using two or more authentication elements. It ensures that the payment instrument belongs to the person who is using it to complete a payment.