Multibanking HUB is a service aimed at banks, willing to take advantage of the business opportunities, provided by Directive (EU) 2015/2366 (PSD2). As Third Party Providers (TPP), the participants in the Hub can service clients of other Account Servicing Payment Service Providers (ASPSP).
The service is based on the National technical standard BISTRA (Bank Interfaces for Standardized Payments) and is compliant to the Law on Payment Services and Payment Systems (LPSPS) and Directive (EU) 2015/2366 (PSD2). The service scope includes:
- Account information
- Payment initiation
The Hub enables its customers, through a single integration, to build a connection with plenty of Account Servicing Payment Service Providers (ASPSP). The hub aims at implementing all the specifics in the interfaces of the Account Servicing Payment Service Providers (ASPSP), as well as to provide the subsequent support of its integration with them, thus facilitating its customers to a great extent.
The Hub is integrated with all Account Servicing Payment Service Providers (ASPSP) on the territory of Bulgaria that have published specialized interface to access their customers' accounts as required by the PSD2. Upon customer’s request, the hub may be integrated with other banks outside the territory of Bulgaria.
The communication between the Hub and its customers can be both synchronous and asynchronous and is carried out through the already established internal network between the parties.