Payments Services Directive 2 (PSD2)


Payments Services Directive 2 (PSD2)

In this course we will cover an important upcoming issue that will affect the Payment Services Sector.

The Payment Services Directive 2 (PSD2) aims at establishing legal framework conditions for the development and the supply of payment services in the EU for many years, including conflict-ridden relations between the established payment service providers and the new Internet-based and mobile-based disruptors. PSD2 introduces a number of new market players such as payment initiation services providers and account information services providers and the regulation of known structures such as limited networks and a number of other issues, including not least IT security, has been changed and made stricter. Legislation is also changing, and the outlines of the PSD2 are now becoming clear. This directive is expected to have an important and severe impact on the payment institutions sector.


Nikki Johnstone will provide us with the latest updates on this issue and how payment service providers can implement this and what the next day will look like in this respect.

PSD2 Course Content

  1. Overview of European payments market
  2. Overview of current payment services/e-money regimes
  3. Background on PSD2 (including status of regulatory technical standards)
  4. Impact of Brexit
  5. Key changes to payments/e-money regime under PSD2
  • Changes to the payments/e-money licensing regime
  • Changes in scope of payments regime
  • New definition of “acquiring” (inc. impact on payment gateways)
  • Narrowing of exemptions
  • Third party payment services (inc. opportunities for new business models)
  • Access to payment systems and account data (inc. requirements imposed on banks)
  • Conduct of business requirements
  • Security – EBA draft RTS on “strong customer authentication”

DATE: 9 June

DURATION: 6 Hours (6 CPD Units)

LOCATION: EIMF Premises, Nicosia

TIME: 09:00-16:00

FEES: €250 + VAT

This course is addressed to:

  • Money Laundering Compliance Officers
  • Compliance Managers
  • Compliance Staff
  • Card Operations Manager
  • Cash Management Officer
  • Electronic Banking Manager
  • Legal Services professionals

Registration Form

You can register by sending the completed registration form above to [email protected] or via fax to 2227 4475. If you need help completing the form, please give us a call at 2227 4470

In-House Training

If you would like to discuss bringing this or another topic to your organization on an in-house basis please call us at 22274470 or email us at [email protected].


Nikki Johnstone

Nikki Johnstone is a senior associate in the Global Banking & Payment Systems practice at Paul Hastings and is based in the firm’s London office. She was recently included in Innovate Finance’s Women in Fintech 2016 Power List.  With a broad background in UK/EU financial services regulation, her practice focuses on advising payment  and e-money institutions, technology companies, online marketplaces and virtual currency players on the regulatory framework and contractual structuring for the launch of new products, geographical expansion or the impact of upcoming legislative change.  Her practice also covers advising new entrants in the crowdfunding and peer-to-peer lending industries both in the consumer and commercial sectors. In addition to her advisory work, she regularly supports the firm’s transactional departments with respect to the sale and purchase of FCA regulated entities, as well as the financing of such firms.  Nikki has completed secondments to Apple Europe and the Financial Markets Law Committee.