Then second payment would be an interest only payment. (mortgage-x.com)
MD: I think the future of payment, especially in the context of Europe, will be PSD2 (The EU's second Payment Services Directive (PSD2) which came into force on January 13, 2018, aims to improve online payment protection, encourage payment services innovation, and make cross-border payments safer. (links2exchange.net)
The EU's second Payment Services Directive (PSD2) took effect on Saturday 13 January, bringing with it the start of Open Banking, however the prospect of a sudden revolution is likely to be thwarted by unresolved technical and regulatory issues and a lukewarm reception from consumers. (finextra.com)