A PYMNTS Company

Fintech, Access to Data, and the Role of Competition Policy

By  |  February 4, 2018

Posted by Social Science Research Network

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Simonetta Vezzoso (University of Trento)

    Fintech, Access to Data, and the Role of Competition Policy

    The revised EU Directive on payment services in the internal market (PSD2) entered into application on 13 January 2018. The PSD2 introduces a sector-specific data portability rule dubbed access to account, or XS2A. Under the PSD2, specific categories of third parties (“Fintechs”) are allowed to access bank account data to provide payment-related services requested by the customer.

    The Paper first outlines how the PSD2 intends to tackle well-known market failures and other issues in the EU payment sector. Second, it discusses the role of competition enforcement in the shadow of the PSD2. Finally, the Paper asks whether the XS2A rule could serve as a template for further access regimes in the data economy.

    Continue Reading…