Image courtesy of iStock Jan. 22, 2021 Payment service provider, Svea and open banking platform Nordic API Gateway have formed a new partnership to help streamline e-commerce checkout for merchants in Finland, according to a press release. The EU directive known as the Revised Payment Services Directive is meant to regulate payment services and payment service providers throughout the European Union and European Economic Area. As PSD2, is set to simplify the payment ecosystem across Europe, payment service providers like Svea are starting to look into the opportunities of providing new account-to-account payments to let merchants initiate instant payments from the customers' bank account to the merchants' bank account. In this way, merchants can steer clear of expensive credit card fees while simplifying the payment process and increasing security for consumers.