Consultations for an interface that will allow third parties to access bank accounts will take two weeks
The Polish Bank Association published its specifications for the so-called Polish API standard. The solution will implement regulations introduced by the PSD II directive and allow outside companies, such as online payment service providers, to access bank accounts. The specifications are available at www.polishapi.org.
Polish API's developers say that the project's main purpose is to meet PSD II requirements while maintaining the security of login data for payment accounts, including bank accounts. The project will make it possible to access accounts by logging in within the banking environment. Polish API's creators are suggesting using a model currently applied for pay by link transfers, which are commonly used on the Polish market. They also consider the possibility of including other solutions in the future, such as a customer verification hub or one-time codes, similar to Blik payments. Those other methods have not, however, been described in detail.
Several dozen companies operating on the Polish market were involved in Polish API, including Allegro, PayU, SkyCash, Blue Media, KIR, Diners Club and some of the major banks, including Alior, BZ WBK, Pekao, PKO, ING, mBank and Millennium among others. Wojciech Pantkowski from the Polish Bank Association claims that this is one of the project's strong sides - similar solutions implemented in Europe have been developed mainly by banks, with little regard for other market participants.
The consultations for Polish API will take two weeks. A report will be prepared several weeks after they are finished, and the project's standards will be updated if necessary. The Polish API interface standard will be made available to all interested companies free of charge. The Polish Bank Association assumes that, realistically, Polish API could be implemented by organizations operating in Poland in the third or fourth quarter of this year.