Open Banking, PSD2 and PSD3

What You Can Do After This Chapter

Learning objective. Learner explains open banking, distinguishes PISPs, AISPs and PIISPs, describes SCA and PSD3 enhancements, and shows how verification of payee and fraud information exchange protect customers. Learner also explains open banking tokenised payments and the PSD3 fraud information exchange between banks.

Practical assessment. Learner receives a case where a customer in Lyon must pay EUR 240 to an online retailer through a PISP, then drafts the consent screen, the SCA steps, the API calls, and the verification of payee handling when the payee name mismatches. Learner also explains the fraud information exchange and the refund position if the payment had been a fraud.

Expected deliverables.

• PISP payment flow for the EUR 240 purchase with consent and SCA steps
• Comparison table: PISP, AISP and PIISP licences and data access
• Verification of payee outcomes: match, close match and mismatch
• Fraud prevention note: PSD3 controls and customer education
• Accessibility checklist for SCA journeys

Completion criterion. Learner drafts a correct PISP payment flow with consent, SCA and verification of payee, and explains the PSD3 fraud and refund rules clearly and accurately.