Financial Firms On Edge Over PSD2 Transition Periods

The staggered nature of EU-led payments reforms is causing uncertainty for the UK financial sector, experts believe, as authorities scramble to finalise accompanying guidance before January.

Although the revised Payment Services Directive (PSD2) is due to take effect across all member states at the start of next year, discussions at Fintech Week events in London on Monday centred on issues that are still to be resolved.

HM Treasury is currently expected to issue its own guidance at the end of July, followed by a detailed final text from the Financial Conduct Authority (FCA) at the end of October.

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