Payment Services Directive 2 (PSD2) came into effect in September potentially impacting mortgage brokers, independent financial advisers and other intermediaries.

It will come into play when using a client’s card to pay for something online with the provider such as insurance premiums, surveys and admin fees on a mortgage application.

The payment service providers have been lobbying for an extension and, although in certain cases an extension has been granted until March 2020, on the whole the directive is now in force.

Under the new rules, for e-commerce transactions, payment service providers have to undertake…..READ FULL ARTICLE