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How does Payment Service Directive 2 (PSD2) protect my personal data, and who can see my information?

Under Payment Service Directive 2 (PSD2), banks must allow Third-Party Providers (TPPs) to access your payment account data, but only if you give your explicit consent. This means TPPs can only see your information if you’ve clearly agreed to it.
The General Data Protection Regulation (GDPR), which also protects your data states that both banks and TPPs need a valid reason, or “legal basis,” to use your data. PSD2 adds an extra protection by making sure your consent is required for this access. 

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