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Open Payments Launches Portal For Developers To Access PSD2 APIs


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I agree that PSD2 will "disrupt" the financial industry.
I do work for a FinchTech company myself & PSD2 is something we monitor very closely but the fact is that the disruption will only get in place in about +- 2 years.

As mentioned in the article banks still have 18 months to get there API up & running, so this will take time before we will see some significant changes.


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@MisterRipple My understanding was that banks must have their API’s in place to provide access to customer data by March 2019 for third parties to start testing and then live by September 2019.

If banks had any sense, they would take a page out of Santander’s book and provide their customer base a payments app, using the best currently available technology.

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  • 2 weeks later...

I've been looking into the PSD2 again recently. It would seem there is no set standard on what a 'good' API should be and banks may develop 'bad' API's for interaction with third parties. https://www.instapay.today/article/efa-attacks-banks-substandard-psd2-api-fears/

The European Commission has set up the 'API Evaluation Group' consisting of technical expert coordinators and API standardization initiatives to collaborate and work towards achieving a common standard for API's and are hoping to have standardized or 'good' API examples by June 2018. Here is their latest evaluation: https://www.europeanpaymentscouncil.eu/sites/default/files/kb/file/2018-04/API EG 026-18 v1.0 Summary of the 6th Meeting (conference call) of the API Evaluation Group - 20180412.pdf

I'm guessing Ripple's API contained within the CA Tech PSD2 sandbox is likely a simple API to access customer accounts for payments without requesting data/habits etc but could possibly build upon it to further their options and use cases.

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