Google now has a PSD2 license for EU

peet · Post by **peet** » Wed Jan 09, 2019 10:07 pm

https://www.lb.lt/en/frd/view_license?id=479

Yes! Google did it. They now have an official license and may view EU bank accounts according to the PSD2 agreement.

How very cunning!

Post by **pkk** » Thu Jan 10, 2019 8:16 am

So is PayPal? I'm confused.

peet · Post by **peet** » Thu Jan 10, 2019 9:50 am

Paypal only knows the bank statement of the transaction you did with paypal, say only the flashdrive you bought on a webstore.

Google now has an official full blown license which allows the full view of a persons whole bank statement. So they also know you payed a few euro's to buy eggs at the market, how much rent you pay etc. So far they got this type of license in Ireland and Lithuania.

This kind of license is very hard to get, even for banks. It was almost impossible for Tech Giants.

peet · Post by **peet** » Thu Jan 10, 2019 10:04 am

Let me give you an example what a typical use of this license means.

Before PSD2, when you wanted a mortgage, you gave the mortgage company a pile of photocopies of your bank statements. You could blackout sensitive statements with a black pen, as long as you kept the amount itself visible. With PSD2 your mortgage company can give you a discount if you authorize them to view your whole bank statement themselves.

Post by **zombywoof** » Fri Jan 11, 2019 4:52 pm

Is it weird that Google is about the only company I *trust* with that information? It feels like they've got a very solid track history in data security and a longstanding corporate culture of "we will respect your wishes."