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In a 13-minute tutorial, Martin al-khawaja explains the significance of a PhD in the European Union Banking and payment markets. The Payment Services Directive (PSD) will allow customers to grant access to third-party providers for account information and payments. New entities, such as account information service providers, will be introduced to aggregate data from multiple sources. Martin proposes a three-dimensional framework to choose a response strategy to the changes brought by PSD. The directive will impact all banks and payment providers serving customers within Europe.