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Christopher Kong: PSD2 Means Opportunity

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Recently bumped into an old 2016 Ripple insights article stating that the PSD2 compliance deadline is this year. 

"The Revised Directive on Payment Services (PSD2) has generated a great deal of news lately, as banks and payments providers in the European Union prepare (and in some cases, panic) for the 2018 compliance deadline."

"PSD2 Article 2 says all currencies and originated payments within the E.U. are in scope. Article 45 says that the banks must show maximum execution time, all charges and the actual or reference exchange rate. Also, the Draft RTS in Article 18 says all transactions should be traceable with a timestamp. So, we know what the banks have been told to implement, and as far as I’m aware, only Ripple and maybe SWIFT GPI would provide an easy solution for these requirements."

If I'm not mistaken I read sometime ago that it was January of this year. Anyone have an update or knowledge about this? Any thoughts appreciated.


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