The technical standards under Payment Systems 2 (PSD2), also known as the regulatory technical specification or RTS, come into force for affected firms on 14 September 2019.
To assist firms in preparing, the FCA has issued a reminder containing key dates and deadlines that will need to be met in order to be compliant by 14 September 2019. We have set out the key timings below.
Finalised reporting and notifications |
Fraud report | from 1 January 2019 |
Authorised push payment complaints reporting | from 1 July 2019 |
Statistics on the availability and performance of a dedicated interface | from 14 September 2019 |
Problems with dedicated interface | from 14 September 2019 |
Strong customer authentication |
Undertaking strong customer authentication | by 14 September 2019 |
Application Programming Interfaces (APIs) |
Requirement to give 3rd party access | by 14 September 2019 |
Submission of fallback exemption requests | by 14 June 2019 |
Making use of testing facilities | by 14 September 2019 |
If you are affected by PSD2 and the advent of the RTS, Taylor Wessing is on hand to help. If you would like to discuss any of the issues in this article, please contact one of our experts.
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