The regulations in PSD2 have changed the payment ecosystem. The directive has generated a myriad of stakeholders, including some fintech companies. 14 September 2019 brought in two new types of players: AISPs (Account Information Service Provider) and PISPs (Payment Initiation Service Provider).
This new legal sector is helping to redraw the map, challenging the established order. Banks no longer have a monopoly on user accounts. Today, fintech companies have acquired true legitimacy. They are subject to the same rules and restrictions as the traditional players, and with sustainable status.
PSD2 has become a reference text cited universally by stakeholders in the payment world. Some see this directive as an opportunity. Coercively imposed by regulators, PSD2 is reshuffling the cards in the terms of the market.
For many, however, the problem lies in interpreting the text, which lacks precedent.