If you do business in Europe, PSD2 is relevant to your interests. If your business takes payments in person in the European Economic Area, PSD2 applies to you. If your business takes payments online from customers in the European Economic Area, PSD2 applies to you.

Does PSD2 apply to US companies?

As stated above, the PSD2 applies to any transaction in which the transmitting and receiving bank are within the EU or EEA. It will, however, have some impact on businesses in other regions, including the US. Any merchant doing business in the EEA will need to ensure that their transactions are SCA-compliant, for one.

Does PSD2 apply to merchants?

PSD2 allows non-banks (like retail merchants) to initiate payments without the intervention of traditional card brand networks. In short, PSD2 creates a legislative framework that allows more ways to easily exchange payments more securely than ever before.