Opportunities and challenges of the second Payment Service Directive “PSD2” and open banking based on user attitudes: A United Kingdom market case

Abstract

The letter talks about the opportunities and challenges of the new directive of payment systems and open banks based on consumer attitudes. Since the open banking initiative is new and began to be formally applied in Britain and Europe 2018, so the British market was studied in particular. It can be summarized that there are four main factors that determine these opportunities and challenges are: the ease of the use of the provided services to the consumers, the perception of the benefit by the consumers, the reputation of service providers and the perception of risks. After reaching the final results of this thesis, recommendations were presented to the service providers (the target group of this thesis)