With the market entry of third party provid­ers of the FinTech-branch, new technological challenges have arisen. Since payment initiation services were no subject to the European Union’s PSD (Directive 2007/64/EC), they are not necessarily supervised by a competent European authority and not required to comply with PSD. A new regulation should thus respond to: consumer protection, security, liability, competition and data protection. Therefore «PSD2» (Directive 2015/2366), a «Fintech-Regulation» which replaces the PSD, will try to ad­dress these legal issues. However, five points of the extended field of application should be highlighted: Inclusion of PISPs PISPs’ authentication towards the account servicing…