Common and secure open standards of communication under the PSD2
According to the provisions of the revised Payment Services Directive (2015/2366), each account servicing payment service provider – a bank, a credit union or an electronic money institution – that offers online services should develop open interfaces for intermediation services and make these interfaces available to other payment service providers.
In order to assess what API standards could be used in Lithuania, the community of Lithuanian payment service providers set up the API Standard Working Group. The Working Group has prepared a report which deals with the issue of API standard in particular and with the API ecosystem in general. After the finalisation of the report, the Working Group’s activities were terminated.