Second Payment Services Directive (PSD2)

The second European Union Payment Services Directive (Payment Services Directive 2 – PSD2), transposed into Greek legislation by Law 4537/2018, represents the next step towards the integration of the European payments market.

Regulatory framework governing the licensing or registration of non-bank payment service providers and their participation in payment systems

• Executive Committee Act 164/2/13.12.2019: Terms and conditions for (a) the authorisation of payment institutions and e-money institutions and for the registration of account information service providers in Greece; (b) the acquisition of, or increase in, or sale of, a qualifying holding; (c) the taking up of a post in the board of directors and other posts; (d) the stipulation of the minimum monetary amount of the professional indemnity insurance or other comparable guarantee; (e) supervisory rules; and (f) keeping of a public register under Article 14 of Law 4537/2018
• Executive Committee Act 214/2/12.12.2022 (Limited Network Exemption) (available only in Greek): Framework for the implementation of point (ia) of Article 3 and the notification requirement under Article 37(3) of Law 4537/2018 transposing Directive (EU) 2015/2366 on payment services into Greek legislation
• Executive Committee Act 254/1/19.01.2026 (available only in Greek): Conditions and requirements governing the participation of payment institutions and electronic money institutions in designated payment systems
  

Regulatory framework, opinions and supplementary information regarding the operational obligations of payment service providers under PSD2 in Greece, with regard to strong customer authentication and open banking

• Commission Delegated Regulation (EU) 2018/389 of 27 November 2017 supplementing Directive (EU) 2015/2366 of the European Parliament and of the Council with regard to regulatory technical standards for strong customer authentication and common and secure open standards of communication (specifying the requirements and exemptions relating to the application of strong customer authentication, as well as the common and secure communication standards for the provision of open banking services)
• Executive Committee Act 158/5/10.05.2019 (available only in Greek): Conditions for granting an exemption from the contingency mechanism under Article 33(6) of Commission Delegated Regulation (EU) 2018/389
• Assessment procedure for applications for exemption from the contingency mechanism (available only in Greek)
• Application form for exemption from the contingency mechanism (available only in Greek)
• Reporting template for exemption from the contingency mechanism (available only in Greek)
• EBA/Op/2018/04: Opinion of the European Banking Authority on the implementation of the RTS on SCA and CSC
• EBA/Op/2019/06: Opinion of the European Banking Authority on the elements of strong customer authentication under PSD2
• EBA/Op/2020/10: Opinion of the European Banking Authority on obstacles under Article 32(3) of the RTS on SCA and CSC
• EBA/Op/2021/02: Opinion of the European Banking Authority on supervisory actions to ensure the removal of obstacles to account access under PSD2
• EBA/Op/2018/07: Opinion of the European Banking Authority on the use of eIDAS certificates under the RTS on SCA and CSC
• Type of identification numbers used in the EBA PSD2 Register and the EBA Credit Institutions Register.
• National identification codes to be used by qualified trust service providers for identification of competent authorities in an eIDAS certificate for PSD2 purposes
  
• List of email addresses of the national competent authorities that will follow the process for requesting revocation of eIDAS certificates as set out in the EBA Opinion on the use of eIDAS certificates (EBA-OP-2018-7)