All accounts in one place and more secure

PSD2 is the European directive that regulates electronic payment services in the euro area. The new regulation, which updates the one from 2007, introduces strong measures in the field of cybersecurity. 11Onze will be guided by this directive. We explain its advantages to through agent Jordi Oller.

The new PSD2 directive came into force in Spain in December 2020, following the approval of Royal Decree-Law 19/2018 on payment services. This regulation sets out the rights and obligations of both institutions and customers with regard to payment services. “It seeks to meet the security needs in a context of strong technological advances in the field of e-commerce,” Oller explains.

PSD2, therefore, regulates all payment transfers, direct debits, card payments and other banking transactions in Europe, and aims to make all payment services in the financial sector more transparent, more competitive and more innovative.


Protecting ourselves from cyber-attacks

First, PSD2 introduces strong measures in the field of cybersecurity. Among other things, a double authentication or reinforced authentication when allowing banking transactions, a procedure that substantially reduces the risk of identity theft. It is for this purpose that financial services institutions have to offer their customers an API, i.e. an Application Programming Interface. “The new APIs give flexibility, simplify design and use and allow innovation in new services,” says our agent 11Onze. At the same time, these financial institutions have to share information with other companies, as long as they have the customer’s consent.

In addition, now, with PSD2, companies cannot access customers’ sensitive financial data. And banks have to establish account access, the so-called XS2A, which is popularly known as open banking, because they are obliged to provide the necessary interfaces so that people can access their account data, provided they have given their consent. “So, for example, users can view all their accounts in one place or make online payments by bank transfer,” Oller explains. You may have read it at La Plaça. From October 1st, 11Onze’s interface will be El Canut, a state-of-the-art application, a digital wallet where you can make all kinds of different transactions and manage several accounts at the same time. 

The new PSD2 also offers solutions to ensure that transferring of sensitive data, via APIs, is carried out without any risk for the client and that data protection is guaranteed by two different means: the QWAC certificate and the QSealC certificate. For online transactions, therefore, it is no longer sufficient to ask for the customer’s debit or credit card, but a double authentication (Strong Customer Authentication, or SCA) is also required. In short, at least two of the following three factors are required for a transaction to take place:

  • What the client has, such as a debit/credit card or mobile phone.
  • What the client knows, e.g. a bank password or a PIN that is sent to the mobile phone.
  • Who the client is, i.e. an ID, be it a fingerprint or facial recognition, some biometric identification parameter.

Less fraud, better online shopping

All in all, PSD2 makes e-commerce much safer, because it prevents fraud through stolen or duplicate cards and avoids chargebacks. In addition, it also makes online shopping more user-friendly. “It facilitates authentication processes, thanks to biometric identification parameters or mobile payments instead of card payments,” explains our agent 11Onze.

Last but not least, PSD2 provides incentives to reduce the costs of online transactions. “It frees up access to banking interfaces, and allows more companies to compete in this payment ecosystem,” Oller concludes. It should be noted, however, that only transactions where the card issuer is European, i.e. from the 27 EU countries, or where the acquirer, or the financial institution that processes the transaction on behalf of the merchant, are also European, will be subject to PSD2. Undoubtedly, what is clear is that with 11Onze you are going to be secure.


Want an 11Onze account? Order batch in Get in line. With the code we’ll give you, you can open an account on October 1st.

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  1. Jordi MorenoJordi Moreno says:

    Gràcies per l’aclariment👍

  2. Enrique Puig i DomingoEnrique Puig i Domingo says:

    Cada cop és més important estar forts n seguretat. Gràcies per la info.

  3. Pere Maria EstremPere Maria Estrem says:
    Pere Maria

    Quanta més seguretat millor. Bona informació.

  4. gemma blanco moragemma blanco mora says:

    Moltes gràcies!!! Cada dia aprenem més coses i molt interessants. Feu molt bona feina 👍

  5. Ricard Calvo VilanovaRicard Calvo Vilanova says:
  6. La nova normativa també contempla excepcions a la autenticació reforçada, com per ejemple que no és necessària si facilites a la entitat els beneficiaris de confiança…i hi ha altres excepcions també. Les i¡tindreu en compte vosaltres també?. Em refio molt poc del mòbil i tinc una lluita amb els bancs des de que ha sortit aquesta normativa perquè han optat per la forma més fàcil de fer aquesta autenticació reforçada…amb el mòbil i no en vol tenir queda discriminat. La llei no especifica el tipus d’instrument…pot ser un certificat digital. Quines alternatives de doble autencicació heu previst que siguin diferents al mòbil?
    La OCU ja s’ha pronunciat sobre aquesta exclusió de les persones que no volen o saben treballar amb el mòbil, Espero que considereu altres alternatives

    • AlbertAlbert Chic Giménez says:

      Efectivament, estudiem totes les alternatives. Ara per ara, aquesta és l’oferta de producte mínim viable d’11Onze i en vindran moltes més. Gràcies pel teu comentari i no deixis de seguir-nos!

      3 years ago
  7. Laura León AmatLaura León Amat says:

    Uauh!! Quanta més seguretat i facilitat per a l’usuari millor. Molt ben explicat

    • David LópezDavid López says:

      Si Laura, la seguretat, és molt important, i com més fàcil sigui fer servir aquesta seguretat, molt millor.

      3 years ago
  8. Carles Mateu del Rio i de BatlleCarles Mateu del Rio i de Batlle says:
    Carles Mateu

    Com sempre molt interessant.

  9. Jordi FerréJordi Ferré says:

    Quanta més seguretat, millor.

  10. Lluís CasamitjanaLluís Casamitjana says:
  11. Rosa Maria SoléRosa Maria Solé says:
    Rosa Maria

    Molt interesant i entenedor, gràcies.

  12. Pere SorianoPere Soriano says:

    Gràcies per aquests cursets. Bona feina!

  13. Carles Vazquez CasadoCarles Vazquez Casado says:

    Molt entenedor. Gràcies!

  14. Esther CanovasEsther Canovas says:
  15. Joan Santacruz CarlúsJoan Santacruz Carlús says:
  16. Lluis AlforjaLluis Alforja says:

    Quant més fàcil i senzill molt millor.

  17. Francesc Estafanell PujolFrancesc Estafanell Pujol says:
    Francesc de Borja

    Poder accedir de manera unificada a tots els comptes pot obrir un camp ampli de possibilitats en un entorn financer europeu. Esperant El Canut

  18. Luis Miguel LopezLuis Miguel Lopez says:
    Luis Miguel

    Gracies Albert per la informacio

  19. montse cabanasmontse cabanas says:

    Com més fàcil, millor.

  20. Laura CarlúsLaura Carlús says:

    Tot segur 👍

  21. alicia Coiduras Charlesalicia Coiduras Charles says:

    Facilitat,seguretat i confiança

  22. EduMC

    Confiança i Seguretat, dos actius d’11Onze!

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