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 Lithuanian Republic Payment Law.
  • 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‘) which have licence from FSA.
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
This service provider collects, with the customer´s consent, information from the customer's payment accounts in one or more banks and presents the compilation in the account information service provider´s own interface. By collecting payment account information from all the banks that the customer uses, a more complete picture of the customer´s economy can be provided.
Swedbank Open Banking
If you are interested in Swedbank Open Banking and Swedbank API, we invite you to visit Open Banking page.