#ICYDK: Europe keeps influencing data privacy around the world. First, there was GDPR, and now we have PSD2, which is the new phase of Europe’s Payment Services Directive. And as with any new compliance, there’s a lot of confusion about what it does, what you have to do and what it all means. You can basically sum it up like this: PSD2 forces banks to make data available. To be honest, that sentence is a bit tricky because of two words: banks and data. There are a lot of definitions of “banks,” but let’s assume we mean companies who hold onto your money and provide access via services like checking, credit/debit cards, and online banking.
Data is even trickier as there are basically three kinds of data PSD2 is forcing banks to expose. https://goo.gl/bz13nC
