Code of conduct for indirect access to UK payment systems updated and new code subscriber announced

An updated, voluntary Code of Conduct for Indirect Access Providers (IAPs) was published on Thursday, 5th April 2018, following a consultation with stakeholders. The principal aim of the Code is to improve the experience of Indirect Payment Service Providers (IPSPs) by clearly setting out the responsibilities of IAPs that subscribe to the Code.

The New Payment System Operator (NPSO), in its role as Code Administrator, along with IAPs and the Payment Systems Regulator (PSR), has reviewed the Code in light of the recently introduced Payment Services Directive 2 (PSD2) regulation. The enhanced version of the Code reflects on the PSD2 powers relating to indirect access to designated payment systems. Since the Code’s launch in 2015, subscribing IAPs continue to take positive steps to demonstrate alignment with the Code commitments and heighten awareness across IPSPs.

Read more here.