The provisions of the new PSD2 have been transposed by Credit Europe Bank Romania

14 June 2019

The new European Payments Directive PSD2 (revised Payment Services Directive), which is part of the transition to open banking, was implemented by Credit Europe Bank and provides access to APIs (Application Programming Interface) published by the parent bank through a version of an API Sandbox according to the provisions of EU Directive 2015/2366.

PSD2 aims to increase consumer protection, security of payments and reduce the risk of fraud for electronic transactions, provide a simpler flow for transfers and other financial services as a step towards stimulating competition on both the financial and commercial markets.

APIs are available on the Developer Portal and allow them to be integrated into apps. The portal can be accessed here: https://developer.sandbox.crediteurope.ro/portal

The Revised PSD2 Directive introduces new payment service providers called TPPs - Third Party Payment Providers - who have a more reduce area of activities because they do not have payment accounts for their customers. Due to the new revised directive, these suppliers will be able to offer payment and bank account information services.