PSD2 regulation brings big changes in payment transactions in Croatia and EU.
We will explain why PSD2 is the single biggest change in banking in the last 20 years. The main change is that it forces commercial banks to open the access of transactional accounts of legal and private persons to the third parties with API-is. European Commission has ruled those as ownership of the owners of the accounts. That means any registered 3rd party to which user has granted the access will be able to access the accounts and manage them and execute the payment transactions. Changes to the system are huge – a market for payment transactions will emerge, prices of transactions will go down. Account access will become simpler, faster and cheaper.