Payment Services and E-Money Application
Open banking has transformed the way we all pay for goods and services. As part of promoting the development and use of innovative online payment services, Revised Payment Services Directive (PSD2) now regulates for the first time – account information and payment initiation services.
Providers of payment accounts accessible online must allow third-party providers to access user accounts (with the user’s explicit consent). These third parties/providers such as account information services (AISPs) – are regulated under PSD2 with corresponding permissions and obligations.
For a one-time and fixed-price fee, our team of qualified legal and technical experts, will:
– First analyse your services (types, size, complexity, and nature, and scale of your activities).
– Walk you through your options, analyse exemptions, and other requirements and prepare a relevant application.
– When preparing your application we will walk you through the documents (as listed below) we need to prepare in support of your application and draft these in collaboration with you and your development team. We will need to familiarise ourselves with you business to the extent necessary to provide the FCA with the information required or desirable and in the manner and form understandable or expected by the FCA’s case officer. You know your business and your solution, we know what the FCA wants to see and in what form.
– Communicate with the FCA during the initial round of feedback.
Who this service is for
We can assist your business if you are seeking to apply to the FCA.
What happens after purchase?
20 years experience across
- Microbusiness (up to 10 Employees)
- Medium-sized business (up to 50 employees)
Not sure what you’re looking for? Let us match you with a legal advisor