| Term | Description |
|---|---|
SCA | Strong Customer Authentication. Strong Customer Authentication is an authentication based on the use of two or more elements categorized as knowledge (something only the user knows), possession (something only the user possesses) and inherence (something the user is) that are independent, in that the breach of one does not compromise the reliability of the others, and is designed in such a way as to protect the confidentiality of the authentication data. |
TPP | Third Party Provider. A TPP needs a license from the local Financial Supervisory Authority to be able to operate as an Account Information Service Providers (AISP) and/or Payment Initiation Service Providers (PISP). |
ASPSP | Account Servicing Payment Service Providers provide and maintain bank accounts for their customers. |
PSU | Payment Service User, the end-user of the PSD2 services. |
PISP | Payment Initiation Service Provider, a TPP that can initiate payments on behalf of the customer. |
AISP | Account Information Service Provider, any (financial) provider with access to customers’ bank accounts aggregating all data to analyze the spending behavior so to provide a complete overview of their financial situation. |
AIS | Account Information Service, an online service which provides consolidated information on payment accounts held by a payment service user with payment service providers. |
PIS | Payment Initiation Service, an online service which accesses a user’s payment account to initiate the transfer of funds on their behalf with the user’s consent and authentication. |
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