Revised Directive on Payment Services (PSD2) adopted by the European Parliament on the 8th of October 2015 (Directive 2015/2366) implements two big changes to EU payment system by introducing Account Information Service Provider (AISP) and Payment Initiation Service Provider (PISP):

- AISP - consolidates customer’s bank account details from several different banks (balance, transactions, history) in one place (one application); e.g. Mint

- PISP - merchants will get the payment directly from the customer’s bank without using any intermediary financial institution; e.g. Sofort Banking, SEPA direct debit, Giropay