Payment Service Directive (PSD2)

Payment and account information services

  • At the start of 2018 the revised Payment Service Directive, known as PSD2, took effect in the EU. Its provisions were transferred to Republic of Lithuania Law on Payments.
  • Through PSD2, new players are introduced to the payment market, both payment initiation service providers, and account information service providers.
  • Services can be provided by banks and other third party providers (TPPs) that have a licence from FSA.
  • On 14 September 14 2019 new technical standards defining measures of practical implementation of PSD2 come into force, thus setting new security standards for how payments shall be processed.
Payment initiation service
This is online payment made by third party on behalf of the customer. This always requires a customer agreement and consent. The actual transfer is through the banks existing payment services.
Account information service
Attention!From August 22, Swedbank starts providing the account information service. From now on, private and corporate customers who also have accounts in SEB Bank in Lithuania and Estonia and Swedbank banks in other Baltic countries will be able to see the balances of these accounts in their Swedbank internet bank environment. Customers can also manage their consents, given to view this information, in Swedbank internet bank.
Swedbank Open Banking
If you are interested in Swedbank Open Banking and Swedbank API, we invite you to visit Open Banking page.