The revised Payment Services Directive (PSD2) has come into effect in the European Union last year. The PSD2 is legislation that regulates the payment services market across the European Economic Area. Its goals are to reduce online card fraud by enforcing stricter transaction authentication requirements, to regulate the FinTech industry and make the payments market more competitive by forcing banks to share customer account data. It also forces member states to designate national authorities that will handle complaints related to payment services. It was adopted by the European Parliament in 2015 and went to effect in September 2019.”]