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Whether it’s GDPR or PSD2; EU lawmakers are doing everything in their power to secure the European consumer and with good reason. A lot has happened in the online payments arena since the enforcement of the first Payment Service Directive - PSD1; rendering it outdated and in need of an update.

As a retailer, you must have heard the term PSD2 tossed around all over the news and social media. PSD2 is broader and deeper than PSD1 and will impact all parties involved in the processing of European payment transactions, including the consumers, payment service providers (PSPs), financial institutions, and merchants.

While large banks and the financial services industry will bear the brunt of this new directive, online stores will also need to reassess their business practices to ensure PSD2 compliance.

Some parts of PSD2 have already been enforced, while others are yet to come into play. Some aspects are crystal clear, while others are still open to interpretation. There is a myriad of facets to PSD2, which is why we have designed this ebook to break down the heavy literature into an easy-to-digest format for online stores of all sizes. The ebook aims to “decode” PSD2, explaining topics that are most relevant to merchants.

1. Background
     1.1 Introduction 3
     1.2 What is PSD2? 4
     1.3 Why PSD2? 4
     1.4 PSD1 to PSD2 5
     1.5 PSD Timeline 7
2. Focus areas for online stores
  2.1 Payment Surcharging
     2.1.1 Complying with the new surcharging rules 10
     2.1.2 Summary of surcharging rules and exceptions 11
  2.2 Strong Customer Authentication (SCA)
     2.2.1 What is SCA? 12
     2.2.2 Complying with the new SCA rules 12
     2.2.3 Exemptions from SCA 15
     2.2.4 A summary of SCA rules and exemptions 17
3. New Business Opportunities
     3.1 Payment Initiation Service Providers (PISPs) 18
     3.2 Account Information Service Providers (AISPs) 20
     3.3 How to leverage new opportunities 22
4. Summary 22
5. Glossary of Terms 23
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Clearhaus is an EU payment institution and acquirer, that makes it quick and easy for merchants to accept payments with Visa, Mastercard and Apple Pay. Using Clearhaus, merchants can get up and running in 1-3 days with best-in-class support and access to all transaction data. Clearhaus serves 12,000+ merchants in 33 countries across Europe with simple, secure payment at competitive prices.