In 2018, the revised Payment Service Directive, known as PSD2 (Payment Service Directive 2), came into force in the EU. In Latvia, its provisions are incorporated into the Payment Services and Electronic Money Law. When using this service, the Customer data are fully protected and only the data accepted by the Customer are exchanged.


PSD2 introduces new players in the marketplace: (1) payment initiation service providers and (2) account information service providers. These services can be rendered (3) by third party providers which have a licence from financial supervisory authorities.



Payment initiation service: Online payment made by a third party on behalf of the Customer. It always requires an agreement with the Customer and the Customer’s consent. The actual transfer is carried out through the existing payment services of the banks.



Account information service: The account information service provider collects, with the Customer’s consent, information from the Customer’s payment accounts in one or more banks and presents the summary in its own interface. By collecting payment account information from all the banks that the Customer uses, a more complete picture of the Customer’s financial situation can be provided.



(3) Third party providers: The companies licenced by the Financial and Capital Market Commission (


PNB Banka offers its Customers the opportunity to initiate payments and receive account information via the electronic platform of third party providers (which have ensured such an opportunity).


PNB Banka has developed and provides a service to make financial services more user-friendly for the Customers.


As before, the Customer’s data are fully protected and only the data accepted by the Customer are exchanged.