Does PSD2 still apply to the UK?

22 Mar 2022 By PAYCEC

After Brexit, the UK still follows the majority of the PSD2 legislation and guidelines, with a few minor changes. It will almost certainly be subject to European legislation, particularly in terms of privacy and data protection. This is true not only for the United Kingdom, but for many other non-EU countries as well. The EU standards for applying technical components of PSD2 were broadened as "Open Banking" standards specifically to make it easier for the UK and other nations or territories to adopt them.

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