Guidelines 06/2020 On The Interplay Of The Second Payment Services Directive And The GDPR

While the second Payment Services Directive ('PSD2') has created a number of novelties for payment services, the application of the PSD2 in turn brings to light certain issues and concerns on the applicability and interpretation between the Payment Services Directive 2 (PSD2) and the General Data Protection Regulation (GDPR) in certain instances, such as the use of explicit consent under PSD2 & GDPR, processing of data, of so called 'silent parties' under PSD2, possibility of account information service providers (AISPs) and to payment initiation service providers (PISPs) to recycle the data under PSD2. These issues have made payment service providers (PSPs) question which provisions they should apply if there is an inconsistency between the two, and if the GDPR should prevail over the PSD 2.