The EU Payment Services Directive (PSD2) will revolutionize consumer authentication. Passwords have been dying a slow death for a while, but PSD2 is likely going to deal the final death blow. Can we all say, “hip hip hooray?”

For those who feel that this is just an issue for the European market, think again. The scope is much broader than the original Payment Services Directive (PSD), which included all transactions with ‘two legs out’ (both parties located within the EU). Now all transactions with ‘one leg out’ (at least one party located within the EU) will be in scope, meaning this will have global implications.

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