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> AISP (Account Information Service Provider) are the service providers with access to the account information of bank customers. I do not see why I should ent

> AISP (Account Information Service Provider) are the service providers with access to the account information of bank customers. I do not see why I should entrust anybody but the bank with information about my wealth. This will get abused and I will probably get nudged into this, so that the company selling an unrelated product can sell my information. If you want to do a product using my banking data, then do a product using FinTS (https://en.wikipedia.org/wiki/FinTS https://en.wikipedia.org/wiki/FinTS) and not as a service that grabs my data to you. > PISP (Payment Initiation Service Provider) are the service providers initiating a payment on behalf of the user. No thanks! Direct debit and wire transfer work good enough. This probably will open the door to insecure payments without 2 Factor Authentication. > For banks, PSD2 poses substantial economical challenges. They are already under stress to provide low-cost bank accounts with the low interest rates of today. I am currently with a bank that I can trust (credit union) and I really do not see much of a need to change.

javiercr 10y ago
> I do not see why I should entrust anybody but the bank with information about my wealth. This will get abused and I will probably get nudged into this, so that the company selling an unrelated product can sell my information. Believe or not, many people (consumers) do this. For example: every Mint.com user
sjtgraham 10y ago
> No thanks! Direct debit and wire transfer work good enough. This probably will open the door to insecure payments without 2 Factor Authentication. PSD2 mandates "strong authentication", which is multi-factor, if the transaction is above 50 euros in value.
matt4077 10y ago
In online payments, your choices in Europe are actually quite limited by this barrier to competitiveness: Wire transfers are usually free but take 1-3 days. Paypal and credit cards charge around 2%. This will enable processors to initiate and verify payments for a fraction of the costs. 2% can really add up as more and more commerce moves online.

javiercr 10y ago

> I do not see why I should entrust anybody but the bank with information about my wealth. This will get abused and I will probably get nudged into this, so that the company selling an unrelated product can sell my information. Believe or not, many people (consumers) do this. For example: every Mint.com user

sjtgraham 10y ago

> No thanks! Direct debit and wire transfer work good enough. This probably will open the door to insecure payments without 2 Factor Authentication. PSD2 mandates "strong authentication", which is multi-factor, if the transaction is above 50 euros in value.

matt4077 10y ago

In online payments, your choices in Europe are actually quite limited by this barrier to competitiveness: Wire transfers are usually free but take 1-3 days. Paypal and credit cards charge around 2%. This will enable processors to initiate and verify payments for a fraction of the costs. 2% can really add up as more and more commerce moves online.