EBA consults on PSD2 RTS Guidelines for ASPSPs

The EBA has published a consultation on draft Guidelines supplementing the Regulatory Technical Standards on strong customer authentication published in the OJ in March 2018, and applicable from September 2019.

Article 33(6) of the RTS set out the conditions that must be met when an Account Servicing Payment Service Provider (ASPSP) wishes to provide access via a dedicated interface in order apply for the exemption from having a contingency mechanism  in place in accordance with Article 33(4) of the RTS.

The EBA identified a need to clarify the requirements ASPSPs need to meet to obtain an exemption, and the information local regulators should consider when deciding applications.

Consequently the EBA has prepared draft Guidelines covering matters including the service level, availability and performance of the interface that the ASPSP needs to have in place, the publication of the performance indicators, the stress testing to be carried out, obstacles to accessing payment accounts and the design and testing of the interfaces to the satisfaction of payment services providers.

The consultation closes on 13 August 2018.  The EBA has indicated that it will seek to publish the final Guidelines as soon as possible, as it expects there to be a sizable number of applications to seek to take advantage of this exemption.