On 14th of September new European Payment Service Directive (PSD2) comes into force. Its goals are to better protect consumers when they pay online, promote the development and use of innovative online and mobile payments and foster competition in the financial sector that should result in better financial services for the consumers.
One of the results of the directive is that banks and fintech companies should expose accounts they hold on behalf of their customers, their balances and the possibility to initiate payments from those accounts to any third-party providers that are approved by the local financial regulators and have the necessary certificates.
To comply with the regulation Skrill has exposed existing APIs enhanced with state-of-the-art authentication and authorization flow, that allows Skrill customers to safely allow access to their data. More information how to use the APIs you can find on our PSD2 Developer portal.