Berlin Group NextGenPSD2 harmonises APIs for account information, payment initiation and confirmation of funds under PSD2. Resources, messages and consent-linked authentication flows help banks and authorised third parties implement access-to-account services across institutions.
TL;DR:
- Standardises Access-to-Account APIs under PSD2.
- Covers account information, payment initiation and confirmation services.
- Harmonises interfaces between account providers and third-party providers.
Summary
PSD2 Account Access
Berlin Group NextGenPSD2 harmonises APIs for account information, payment initiation and confirmation of funds under PSD2. Resources, messages and consent-linked authentication flows help banks and authorised third parties implement access-to-account services across institutions.
Common API Services
NextGenPSD2 defines a common interface framework for access to payment accounts under PSD2. It covers the interaction between account-servicing payment service providers and third-party providers for the services supported by the framework, including account information, payment initiation and confirmation of funds.
Consent And Authentication
The framework connects API operations with consent and authentication journeys. A third party's technical request must correspond to the service and permission the customer has authorised; an API endpoint is not a general right to retrieve all customer information. Implementations also need consistent handling of responses and errors.
Framework And Current Resources
The standard is a technical implementation framework, while PSD2 and related regulation establish legal rights and duties. Individual banks publish the capabilities and versions they support.
Keywords
- PSD2
- XS2A
- Open Banking
- Account Information
- Payment Initiation
- Funds Confirmation
- Customer Consent
- API Resources
- Bank Interfaces
- Authentication