Payment Service Directive 2 (PSD2)

The abbreviation PSD2 stands for “Payment Service Directive 2” and is an EU-directive for the regulation of payment services. They shall promote both competition and innovation for payment services. The core element of PSD2 is the “access to...

Payment Service Provider (PSP)

PSP is an abbreviation for “Payment Service Provider” and refers to service providers offering several payment procedures from a single source. With PSP, the merchants receive a special point of contact for all payment procedures used. Apart from that, the...

Payment Services Supervision Act

ZAG is the German abbreviation for Payment Services Supervision Act. It is a national implementation of an EU-directive applied to create a unified legal framework. Affected parties are mainly credit institutions, banks and eMoney-institutions.

Point of Sale (POS)

At a “Point of Sale” (PoS), products change hands. In checkout areas, it denotes the location of payment, i.e. the (electronic) till. At the PoS, payments are executed by cash but also with credit cards or mobile payment solutions.


PropTech is an industry description assembled by the first syllable of “property” and “technology”. PropTechs are mainly startups changing property services employing technologic advance.


QR, in long “Quick Response”, is a two-dimensional barcode in which certain amounts and data can be stored. They create the basis for some mobile-payment-offers.

Regulatory Sand Pit

A “regulatory sand pit” belongs to the terminology of FinTech startups and relates to exceptions in regulations of the national financial supervision. The regulatory sand pit creates the framworks so that startups can experiment in a non-regulated...

Robo Advisor

The term “RoboAdvisor” consists of the assimilated words “robot” and “advice”. A RoboAdvisor is an automatic advisor on the webpage of a FinTech. It provides advice to customers willing to invest money. A questionnaire ascertains...

Screen Scraping

The screen scraping is a method for extracting and evaluation of data material displayed on a computer screen. It is used to display the data on another screen. Screen scraping is often used by FinTechs that offer banking apps. Thus, they may display the account...

Secure Element

A secure element is a physical security module of a SIM-card or – if necessary – for smart phones. It is responsible for the encryption and “tokenisation” (transfer into tokens) for mobile payment and offers a larger degree of security. To...