PSD2 Compliance vs GDPR Compliance
Developers should learn about PSD2 compliance when building financial technology applications, such as payment gateways, budgeting tools, or account aggregation services, that interact with European banks meets developers should learn gdpr compliance when building applications that handle personal data of eu users, such as e-commerce sites, social media platforms, or healthcare apps, to avoid legal penalties and build user trust. Here's our take.
PSD2 Compliance
Developers should learn about PSD2 compliance when building financial technology applications, such as payment gateways, budgeting tools, or account aggregation services, that interact with European banks
PSD2 Compliance
Nice PickDevelopers should learn about PSD2 compliance when building financial technology applications, such as payment gateways, budgeting tools, or account aggregation services, that interact with European banks
Pros
- +It is essential for ensuring legal adherence, enhancing security with features like two-factor authentication, and leveraging open banking opportunities to create innovative customer-facing solutions
- +Related to: open-banking, api-security
Cons
- -Specific tradeoffs depend on your use case
GDPR Compliance
Developers should learn GDPR compliance when building applications that handle personal data of EU users, such as e-commerce sites, social media platforms, or healthcare apps, to avoid legal penalties and build user trust
Pros
- +It's essential for implementing features like data encryption, user consent mechanisms, data portability, and breach notification systems, ensuring software aligns with privacy-by-design principles
- +Related to: data-privacy, security-compliance
Cons
- -Specific tradeoffs depend on your use case
The Verdict
Use PSD2 Compliance if: You want it is essential for ensuring legal adherence, enhancing security with features like two-factor authentication, and leveraging open banking opportunities to create innovative customer-facing solutions and can live with specific tradeoffs depend on your use case.
Use GDPR Compliance if: You prioritize it's essential for implementing features like data encryption, user consent mechanisms, data portability, and breach notification systems, ensuring software aligns with privacy-by-design principles over what PSD2 Compliance offers.
Developers should learn about PSD2 compliance when building financial technology applications, such as payment gateways, budgeting tools, or account aggregation services, that interact with European banks
Disagree with our pick? nice@nicepick.dev