PSD

PSD (Payment Services Directive) is an EU directive regulating payment service providers, focusing on improving the security and transparency of online payments.

What will 2023 bring in financial regulation?

Stay up to date on financial regulation for 2023. Read about crowdfunding, cybersecurity, cryptocurrency regulation, payment services and AML.

New RTS SCA Standards in the Area of Payment Systems

Stuchlíková & Partners provides continuous legal advice to GLOBDATA a.s. in connection with the new requirements in the area of payment system law – requirements for strong customer authentication and opening of access to client information to third parties in accordance with the RTS SCA rules. GLOBDATA a.s. is one of the leaders in providing services for public transport and municipal services operators in the Czech Republic.

Cooperation Settings in the Field of Card Acquiring with Leading Czech Banks

Stuchlíková & Partners provided comprehensive legal advice to the sales representative of a major foreign payment institution operating throughout the entire EU and a leader in innovative payment solutions in connection with the set-up of cooperation in the field of card acquiring with leading Czech banks. Legal advice included consultation with the Czech National Bank, including the submission of a qualified inquiry, the assessment of compliance with the new PSD2 legislation, and the preparation of comprehensive contractual documentation.

Payment Initiation Service Provider (PISP) and Account Information Service Provider (AISP) for a Foreign Payment Institution

Stuchlíková & Partners provided comprehensive legal advice to the foreign payment institution Blue Media S.A. in connection with the provision of new payment services on the Czech market under the PSD2 rules – Account Information Service Provider (AISP) and Payment Information Service Provider (PISP).

Licences for PSD2 Payments

In the area of payments and e-money, we have provided re-licensing or new licences for 14 of our clients in the past year in accordance with the tightened PSD2 rules and the new Payment Systems Act (Act no. 370/2017 Coll.).

PSD2 and the new Payment Systems Act

The PSD2 Directive has been implemented into Czech law by the new Act on Payment Systems, no. 370/2017 Coll., which will come into effect on 13 January 2018.