Author: Editor

PSD2 and the GDPR, a Happy Marriage or a Bad Partnership?

[vc_row][vc_column][qodef_button size="" type="" target="_self" icon_pack="" font_weight="" text="VIEW PDF" link="https://dcsp.nl/wp-content/uploads/2019/07/Delex-8949-DCSP-Magazine-01-2018-Ady-van-Nieuwenhuizen.pdf"][/vc_column][/vc_row] By Ady van Nieuwenhuizen The Payment Service Directive 2 (PSD2) is a new European directive for payment services. The directive must ensure uniformity of payments within the European Union. The ultimate goal is to alleviate the concerns with the monopolistic position of banks and to ensure more competition and innovation. An additional goal is to remove the barriers for new entrants to the payment market.   In order to be able to bring this payments uniformity into reality, it is necessary, among others things, to make use of personal data. This unavoidable consequence can lead to clashes with the new privacy legislation, the General Data Protection Regulation (GDPR). All providers of payment services must not only comply with the GDPR, but in the future also with the PSD2. This is the reason why it is important that the PSD2 is in tune with the GDPR.   By...

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