Trading platform becomes payment institution?
The Payment Service Directive 2 is the successor to the first version of the Payment Service Directive (PSD). PSD2 is a European directive that must be transposed into local financial legislation by the EU member states. The PSD2 is a progressive directive that is intended to realize innovation and renewal in the financial landscape and to give fintech parties the capacity to develop new products and services. At the same time, the directive ensures that more parties will fall within the scope of the PSD2. The directive should further contribute to a stable and secure financial system with sufficient measures to prevent abuse.
Maurice Jongmans' whitepaper on PSD2 for trading platforms "Trading platform becomes payment institution" sets out the options and guidelines for setting up your platform or marketplace under PSD2.
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