20 October 2021
The European Banking Authority (EBA) published today clarifications to a seventh set of issues that had been raised by participants of its working group on Application Programming Interfaces (APIs) under the Payment Services Directive (PSD2). The clarifications respond to issues raised on downtime of dedicated interfaces, payment status/rejection reasons, ASPSPs restricting access in case of embedded redirection, scope of the bank offered consent, inability to initiate bulk payments via APIs and whether the Electronic Banking Internet Communication Standard (EBICS) is within the scope of PSD2.
In January 2019, the EBA established a working group on APIs under PSD2, consisting of 30 individuals representing account servicing payment service providers (ASPSPs), third party providers (TPPs), API initiatives, and others market participants. The aim of the group is to facilitate industry preparedness for the Regulatory Technical Standard (RTS) on Strong Customer Authentication and Common and Secure Communication and to support the development of high-performing and customer-focused APIs under PSD2.
The group is tasked with identifying issues and challenges that market participants face during use of API interfaces. The group is also asked to propose solutions on how the identified issues could be addressed, which the EBA and national authorities will then consider when providing clarifications in response to the issues raised.