PSD2 Update: What Merchants Should Know

In May we talked about Europe’s revised Payment Services Directive (PSD2), what it means, and what Segpay is doing to ensure merchants are in compliance. With PSD2’s September 14th start date less than a month away, we thought this was a good time for an update on where things stand and what will change for Segpay merchants under these new EU regulations.

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New Version of 3-D Secure Helps Merchants Comply with PSD2 in Europe

Europe’s second, or revised, Payment Services Directive (PSD2) will change how banking is done in the EU by opening up the financial services industry to more competition. However, while PSD2 creates the opportunity to access new markets, it also imposes strict regulations to ensure that anyone handling consumer information or transferring payment data is doing it safely.

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Segpay Re-Authorized as Payment Institution in the UK

Great news, we were re-certified as a licensed Payment Institution in the UK, which means Segpay complies with the new PSD2 directive in the EU, and can continue providing payment services in the UK and EU. From our official announcement:

Compliance with PSD2’s stronger requirements on data security and consumer protections maintains Segpay’s reputation as a secure, trusted provider,” said Cathy Beardsley, CEO of Segpay. “Our policies and procedures are ahead of our competitors and receiving this authorization demonstrates our continued commitment to go above and beyond to be a leader in compliance.