On 26 September 2017, the Dutch Minister of Finance published a first draft of the Decree implementing the revised Payment Services Directive (PSD2) (Implementatiebesluit herziene richtlijn betaaldiensten, the Implementation Decree) for consultation. The Implementation Decree will amend the Decree on Conduct of Business Supervision of Financial Undertakings (Besluit Gedragstoezicht financiële ondernemingen), the Decree on Prudential Rules for Financial Undertakings (Besluit prudentiële regels Wft) and the Decree on Market Access of Financial Undertakings (Besluit Markttoegang financiële ondernemingen Wft).
In short, the PSD2 adapts the rules to cater for emerging and innovative payment services, including internet and mobile payments. The aim is to ensure a more secure environment for payments, in particular for those using remote channels. The PSD2 also covers new types of payment services, account information services and payment initiation services. Furthermore, strict security requirements are introduced for electronic payments and the protection of consumers’ financial data and guaranteeing safe authentication and reducing the risk of fraud.
The consultation ends on 25 October 2017.
View the Implementation Decree (Dutch only), 26 September 2017.