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Payment Services Directive 2Payment Services Directive 2 As you might be already aware there are changes to legislation around payments and transactions due to come into force across the UK and Europe on 14th September 2019. These changes are covered under the Payment Services Directive 2 (PSD2) and that might result in changes to the way you process all the electronic payment transactions. This affects all business types and we are just passing this on to you to make all of our partners aware. What is Payment Services Directive 2 and why does it matter? Payment Services Directive 2 (PSD2) is a set of regulations relating to online and electronic payments, due to come into force across the UK and Europe on 14 September 2019. It will be adopted by the United Kingdom irrespective of whether, or when, the UK leaves the European Union.
Banks must refuse any transactions which are not PSD2 compliant from Saturday 14 September 2019 onwards. Merchants cannot, for example, just accept liability and not undertake SCA. Where and when does it apply?
It does not cover: This is an EU initiative, and therefore for more details please go to https://ec.europa.eu/info/law/payment-services-psd-2-directive-eu-2015-2366_en Rail Delivery Group Travel Agents Team |
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