The revised Payment Services Directive (PSD2) was enacted on 13 January 2018 across Europe and the UK. PSD2 introduced new rights for certain third-party providers (TPPs) to directly access payment service users’ online payment accounts in certain circumstances and requires Account Servicing Payment Service Providers (ASPSPs), to permit access through a dedicated interface built on APIs.
To meet our PSD2 requirements, BVNK will allow Third-Party Providers (TPPs) certain access:
- Account Information Services (AIS): Account Information from BVNK accounts will be able to be shared with other financial institutions, upon the account owner’s consent.
E.g.: a budgeting application that consolidates account information from multiple banks and financial institutions will be able to import data from BVNK Virtual Accounts.
- Payment Initiation Services (PIS): payments to other financial institutions will be able to be initiated directly from other bank accounts, with the owner’s consent.
E.g.: a payment of a credit card balance can be made from a mobile application and biometric authentication, with the money coming out of a BVNK Virtual Account.
If you are interested, please fill in the form below:
Updated 12 months ago