equensWorldline enables 25 banks to achieve PSD2 compliance

equensWorldline is European provider in the payments and transactional services industry and a subsidiary of Worldline.

As a result, these banks (including Credit Europe, Commerzbank, Crelan, Bank J. Van Breda & C°, vdk Bank, Europabank, Crédit Municipal, CPH Banque and Comdirect Bank AG) are among the first that have the required testing facilities ready in accordance with the timetable prescribed by the European Banking Authority (EBA) and corresponding National Competent Authorities (NCA).

Although these 25 banks met the first deadline in time, a recent survey shows that 41% of the other European banks failed to have their test facilities in place by the end of March. There is still time for them to catch up, as banks must have their payment system ready for usage by regulated third party providers (TPPs) by 14 September 2019.

According to equensWorldline, it is important for banks to follow the required timeline, not only to drive innovation, but also in case a bank wants to request an exemption from the fallback mechanism. Exemption is granted when the dedicated interface meets specific criteria. equensWorldline supports banks with this exemption request, as well as the creation of testing facilities or a ‘sandbox’ environment, and documentation on the API’s in a very short timeframe.

equensWorldline also provides the end-to-end dedicated interfaces, including consent management and TPP verification which comply with PSD2-regulations and enable third-party providers to access customer account information. Within the new context, payment service users are protected by the Strong Customer Authentication (SCA) requirements and must give their permission before their details are submitted or a payment is processed.