The European Banking Authority (EBA) has published a series of clarifications to issues raised by its joint working group on Application Programming Interfaces (APIs) under the second Payment Services Directive (PSD2).

The issues raised in today’s update relate to the performance and support of APIs, which enable financial data sharing, as well as the provision of a list of Third Party Providers (TPPs) that are interested in testing, and the testing by TPPs that is not authorised.

Also announced are the timelines applicable across the European Economic Area if Account Servicing Payment Service Providers (ASPSPs) want to be exempted from the API fall-back mechanism.

In January this year, the EBA established a Working Group (WG) on APIs under PSD2, consisting of 30 individuals representing account servicing payment service providers (ASPSPs), TPPs, API schemes and others market participants from across the EEA.

The aim of the group is to facilitate industry preparedness for the Regulatory Technical Standard (RTS) on Strong Customer Authentication (SCA) and Common and Secure Communication, which are due to be implemented on 14 September this year, and to support the development of high-performing and customer-focused APIs under PSD2.

The group is tasked with identifying issues and challenges that market participants face during the testing and use of API interfaces in the period leading up to that deadline.

The group is also asked to propose solutions on how the identified issues could addressed, which the EBA and national authorities will then consider.

On 11 March, the EBA published clarifications to the first set of issues raised by its working group. Today's publications is the response to the second set of issues that the group had raised. In the weeks and months to come, the EBA will add further clarifications.

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