UK Third Parties Thrive But PSD2 Reauthorisation Lags

New third-party providers looking to capitalise on the revised Payment Services Directive (PSD2) are continuing to hit the UK market — but in the already-regulated sector, hundreds of firms have not yet submitted reauthorisation applications.

Since the Financial Conduct Authority (FCA) initially granted permission to thirteen new third parties on January 13 — the first day PSD2 was in effect — a further six firms have been approved.

One firm, Bud Financial, has been authorised to carry out both payment initiation and account information services, joining Paysafe-owned Skrill, Ardohr and Truelayer.

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