1. PSD2 is coming, are you ready?
Industry Roundtable Event, Pinners Hall, London
27 November 2014

2. Agenda 3.00pm Welcome and opening remarks VocaLink 3.10pm
Update on PSD2
Hogan Lovells
3.20pm
Round table discussion
ALL
4.45pm
Summarise and next steps
5.00pm
Drinks and networking
6.00pm
CLOSE

3. Introduction Gather industry feedback on the UK response to PSD2
Is a pro-active collaborative approach welcomed?
Feedback and participation is encouraged
Chatham House Rule to allow open discussion

4. PSD2 – New third party services
Roger Tym
27 November 2014

5. The context Payment Services Directive has had its 5th birthday
Number of areas to be refined (or needed to be) in PSD2, such as:
Scope
Cross-border services/establishment
Treatment of merchant acquiring
Security
Liability
Development to recognise new/developing payment services, such as PIS [and AIS]
MIF Regulation
No sleepwalking!

6. Third party services Payment Initiation Services
Account Information Services
"low-cost solution for both merchants and consumers"
"provide consumers with a possibility to shop online even if they do not possess payment cards"
Must grant access (unless unauthorised or fraudulent initiation)
No mandatory contract/rely on general legislative and supervisory framework
No discriminatory treatment of PIS-initiated vs payer-direct payment orders
Collaborative response generally supports aims of the Directive in providing standardised and secure transmission of payment orders

7. PSD2 Timeline Trilogue discussions and ordinary legislative procedure
[2017]
Member States must adopt and publish laws within 2 years and must apply provisions within 30 months (based on latest Compromise Text)
23 July 2014
Further Compromise Text
14 Oct 2014
Further Compromise Text
31 Dec 2014
Italian Presidency ends
1 Jan 2015
Latvian Presidency begins
3 April 2014
Parliamentary Plenary session
24 July 2013
Commission draft PSD2 proposal
27 June 2014
Compromise Text
12 Sept 2014
Further Compromise Text
31 Oct 2014
Further Compromise Text
[2014/2015]
Final Compromise Text
[Spring 2015] Adoption
[Spring/Summer2015]
Publication in Official Journal
Trilogue discussions and ordinary legislative procedure

8. Discussion points
What has your organisation done, or planning to do, in preparation for PSD2?

9. Discussion points
What would an industry collaborative approach look like?

10. Discussion points
Where is the divide between the collaborative and competitive space?

11. Discussion points
Would your organisation participate in a working group to define and scope a potential collaborative approach?

12. Summary and next steps
VocaLink is seeking early engagement with the industry
Chance to input and shape a collaborative response to regulation
Further industry day planned for Q1 2015

13. Thank you for participating
Drinks and Networking