Get newsletter

Be the first to receive the latest news about Numbrs.


Numbrs goes PSD2

The new EU Directive PSD2 (Payment Service Directive 2) will come into force in Germany on 13 January 2018. From this point onwards, banks must make a publicly accessible interface (so-called APIs) available, which third parties such as FinTechs could use to view account data and initiate payments. The new Directive’s aim is to promote innovation, competition and security, as well as to reduce transaction costs.

However, the PSD2 includes both rights and obligations for FinTechs. There are licence and registration requirements for FinTechs in Germany, without which their business activity can be prohibited by the Federal Financial Supervisory Authority (BaFin). The majority of FinTechs will be subject to this PSD2 regulation in Germany in the future and will have to go through lengthy, bureaucratic audit processes. This also applies to Centralway Numbrs.

This is why we have been preparing intensively for the PSD2 regulation for several weeks and have been implementing BaFin’s obligations and requirements internally. For example, these include:

The amount of effort put into this is enormous and can be achieved only by employing lots of staff. The effort required for this is associated with additional staffing costs. It is for this reason that smaller FinTech startups will find it especially difficult to satisfy the complex requirements and obligations of the PSD2 regulation.

The liberalisation and intensification of the competition which comes with the PSD2 will accelerate digital change in financial services. On the other hand, the licence requirement may also mean that some FinTech startups that do not obtain or cannot afford a licence will disappear and the user would have switch to another app.

We will only find out the practical repercussions of the advantages and disadvantages once the PSD2 regulation comes into force. Centralway Numbrs will comply with the rules and regulations of the BaFin in any case and has the goal of being completed PSD2-regulated by January.


Juli 2021

Juni 2021

Mai 2021

April 2021

März 2021

Februar 2021

Januar 2021

Dezember 2020

November 2020

Oktober 2020

September 2020

August 2020

Juli 2020

Juni 2020

Mai 2020

April 2020

März 2020

Februar 2020

Januar 2020

Dezember 2019

November 2019

Oktober 2019

September 2019

August 2019

Juli 2019

Juni 2019

Mai 2019

April 2019

März 2019

Februar 2019

Januar 2019

Dezember 2018

November 2018

Oktober 2018

September 2018

August 2018

Juli 2018

Juni 2018

Mai 2018

April 2018

März 2018

Februar 2018

Januar 2018

Dezember 2017

November 2017

Oktober 2017

September 2017

August 2017

Juli 2017

Juni 2017

Mai 2017

April 2017

März 2017

Februar 2017

Januar 2017