PSD2 is a new law that increases transparency and security for consumers. It requires banks to state exchange rates, implement two-factor authentication, and limit consumer liability for unauthorized purchases. The law also aims to boost competition by exposing unethical banking practices and allowing more fintech companies to enter the market. Overall, PSD2 is expected to positively impact consumers and the financial marketplace through greater options and more ethical practices.

1. WHAT IS PSD2?

2. CHANGES IN THE
LAW INCLUDE:
Stating of exchange
rates when making a
payment in another
currency.
Increasing security
measures, including a
two-factor
authentication system.
Limiting payer liability in the
event of an unauthorized
purchase.
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3. HOW DOES PSD2 AFFECT
CONSUMERS?
Consumers had previously been exposed to unfair and
deceptive banking practices. A lack of competition in the
banking sphere reinforced this. Now, customers can expect
more transparency and open communication regarding the
status of purchases, rates/fees, and other financial services.

4. HOW DOES PSD2 AFFECT THE
MARKETPLACE?
Competition is expected to increase as a result of this law
due to exposing unethical practices. I expect many fintech
companies to debut, with solutions for every client
concern.

5. IN CONCLUSION
Although you may not see immediate changes in your banking
routine, you can expect to hear news of increased options in
the near future. I anticipate this change will affect the general
population in a very positive way.

6. THANKS FOR WATCHING!
F O R M O R E I N F O R M A T I O N , P L E A S E V I S I T
J A C O B P A R K E R B O W L E S . C O . U K