Dear Sir or Madam,

On 20. October 2014, the European Banking Authority released a consultation paper ‚On the implementation of draft EBA Guidelines on the security of internet payments prior to the transposition of the revised Payment Services Directive (PSD 2)‘ .

On behalf of the German Banking Industry Committee (GBIC) we welcome the opportunity to comment this paper.

·        GBIC is in favor of Option 1 (two step approach). Furthermore we like to emphasize that SecurePay and PSD 2 should come to force at the same time.
·        Because of the relevance of the article 58/59 PSD 2, GBIC wants to give some advise regarding the TPP (see Annex).

The German Banking Industry Committee is the joint committee operated by the central associations of the German banking industry. These associations are the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR), for the cooperative banks, the Bundesverband deutscher Banken (BdB), for the private commercial banks, the Bundesverband Öffentlicher Banken Deutschlands (VÖB), for the publicsector banks, the Deutscher Sparkassen- und Giroverband (DSGV), for the savings banks finance group, and the Verband deutscher
Pfandbbriefbanken (vdp), for the Pfandbrief banks. Collectively, they represent more than 2,200 banks.

Yours sincerely,
on behalf of the German Banking Industry Committee
National Association of German Cooperative Banks