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September 6, 2018

06 September 2018

European Data Protection Board Clarifies Application of GDPR to Payment Service Providers

On July 5, 2018, the European Data Protection Board (EDPB)1 replied to a request from a Member of the European Parliament (MEP), Dutch Democrat Sophie in ‘t Veld, for clarification on a number of issues relating to the protection of personal data under the EU General Data Protection Regulation (2016/679) (GDPR) and the revised EU Payment Services Directive (2015/2366) (PSD2). In its response, the EDPB set out its position on how the requirement to obtain explicit consent from payment service users under PSD2 interacts with the GDPR. The EDPB also provided guidance on the use of personal data relating to a payee by an account information service provider or a payment initiation service provider acting for a payer.

This post summarizes the EDPB’s stated positions on these points and explores the implications for firms providing payment services in the European Economic Area (EEA).

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