PSD2 goes live in Netherlands
The revised Payment Services Directive (PSD2) has entered into force in the Netherlands opening up the nation to more innovation and competition.
With this announcement, De Nederlandsche Bank (DNB), the central bank, says it is now accepting PSD2 licence applications.
DNB states: “The aim of these new services is to promote innovation and competition in the European payments markets.”
Originally, 20 parties expressed interest during the central bank’s first call of applications. Six of them submitted a draft licence application, and the rest said they were planning to do so.
As a result, the application process for some of these parties is already well under way. These firms wish to provide payment initiation services and account information services, two new types of services enabled by PSD2.
In terms of Brexit, DNB says UK-based parties that provide existing services (PSD2 has already been implemented in the UK), can apply for a Dutch licence to be able to continue offering their services in the European Union once Brexit has happened.