PSD2 is an EU directive designed to regulate payment services and promote innovation in the financial sector. It applies to banks, payment service providers (PSP) and any other company that handles financial data.
For mobile apps providing payment services, such as banking apps, payment applications, mobile wallets and shopping applications that offer payment functionality, PSD2 requires strong customer authentication and secure data transmission.
PSD2 requires strong customer authentication and secure execution environment. Financial service providers, including banks, must implement a minimum of two factor authentication and a one-time password. RASP, or Runtime Application Self-Protection, helps organizations become compliant with PSD2 by detecting and preventing attacks in real-time, while the application is running.
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