What is PSD2 Open Banking?
New EU regulation PSD2 (Payment Service Directive 2) brings you the opportunity to come up with the new software solutions, which gives additional value to your and our customers. After fulfilling the regulatory requirements and obtaining licence to provide payment services from your national regulator, you will be able to register your organization on our Portal and subscribe your application(s) to consume various set of production APIs. Without the licence you can get ready and test your applications with our sandbox portal. In the mandatory scope you can access APIs supporting services described below, but in future we will be providing broader set of data.
AISP / Accounts APIs - service made available to users of payment services with online access to accounts through which the payer can get, thanks to an online platform, a consolidated view on all its payment accounts, even if those are held on multiple PSP; the AISP cannot use customer data or log on to its payment accounts for any purpose other can those provided by the service.
PISP / Payments APIs - service provided by those that stand between the payer and his online payment account, by initiating the payment to a third-party beneficiary.
PIISP / Confirmation of Funds APIs - service provided for "Payment Instrument Initiation Service Provider". After the consent provided by customer, they can verify with the bank availability of funds on the payment account for the completion of the payment. For the moment, this service is available only on Raiffeisen Bank Romania Sandbox.
For the regulatory scope we are following in the majority of aspects the Berlin Group Framework based on the EBA Regulatory Technical Standards (RTS). The exact API specifications are available in documentation.
- Directive 2015/2366 on payment services
- 2018/389 regulatory technical standards for strong customer authentication and common and secure open standards of communication
- Berlin Group - PSD2 Access to Bank Accounts