The Second Payment Services Directive (PSD2) is a fundamental piece of payments-related legislation in Europe coming into force on the 13th January 2018. Transposed via the UK via the Payment Services Regulations 2017 (PSRs), PSD2 imposes a range of new requirements onto existing and prospective payment service providers.
In particular, all existing payment service providers will need to be re-authorised or re-registered to continue providing such services. Learn more about PSD2 here.
Firms that require re-authorisation include:
- Authorised Payment Institions (APIs); and
- Authorised Electronic Money Institutions (AEMIs).
Firms that require re-registration include:
- Small Payment Institutions (SPIs); and
- Small Electronic Money Institutions (Small EMIs).
Our consultants are well versed in the intricacies of PSD2 and the Payment Services Regulations 2017. We remain up-to-date on developments in the payments and FinTech space, enabling us to provide tailored advice and assistance in preparing firms for authorisation, re-auhorisation, registration and re-registration.
Do contact us to discuss your firm’s particular needs concerning PSD2 and how we can assist you.