Privacy Guidelines on Interplay of the Second Payment Services Directive and the GDPR – version for public consultation
Guidelines 06/2020 on the interplay of the Second Payment Services Directive and the GDPR
Section 1.2 Services under the PSD2
5 The PSD2 introduces two new kinds of payment service (providers): PISPs and AISPs (see section 1.1. definitions) . Annex 1 of the PSD2 contains the eight payment services that are covered by the PSD2.
6 PISPs provide services to initiate payment orders at the request of a payment service user with respect to the user’s payment account held at another payment service provider. A PISP can request an ASPSP (usually a bank) to initiate a transaction on behalf of the payment service user. The (payment service) user can be a natural person (data subject) or a legal person.
7 AISPs provide online services for consolidated information on one or more payment accounts held by the payment service user either with another payment service provider or with more than one payment service provider. According to recital 28 PSD2, the payment service user is able to have an overall view of its financial situation immediately at any given moment.
8 When it comes to account information services, there could be several different types of services offered, with the emphasis on different features and purposes. For example, some providers may offer users services such as budget planning and monitoring spending. The processing of personal data in the context of these services is covered by the PSD2. Services that entail creditworthiness assessments of the PSU or audit services performed on the basis of the collection of information via an account information service fall outside of the scope of the PSD2 and therefore fall under the GDPR. However, accounts other than payment accounts (e.g. savings, investments) are not covered by the PSD2.
Happy Payments is a company that offers an online service consisting of the provision of information on one or more payment accounts through a mobile app in order to provide financial oversight (an Account Information Service). With this service, the payment service user can see at a glance the balances and recent transactions in two or more payment accounts at different banks. It also offers, when apayment service user chooses to do so, a categorisation of spending and income according to different typologies (salary, leisure, energy, mortgage, etc.), thus helping the payment service user with financial planning. Within this app, Happy Payments also offers a service to initiate payments directly from the users designated payment account(s) (a Payment Initiation Service).