{"id":6527,"date":"2023-09-29T16:53:43","date_gmt":"2023-09-29T16:53:43","guid":{"rendered":"https:\/\/www.worldfirst.com\/eu\/?page_id=6527"},"modified":"2024-04-15T08:32:47","modified_gmt":"2024-04-15T08:32:47","slug":"psd2","status":"publish","type":"page","link":"https:\/\/www.worldfirst.com\/eu\/compliance\/psd2\/","title":{"rendered":"PSD2"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"6527\" class=\"elementor elementor-6527\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6f5d015 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6f5d015\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-eb71d71\" data-id=\"eb71d71\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1f43dce elementor-widget elementor-widget-heading\" data-id=\"1f43dce\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 15-07-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h4 class=\"elementor-heading-title elementor-size-default\">Related content<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-651f447 elementor-widget elementor-widget-text-editor\" data-id=\"651f447\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 15-07-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<div class=\"x-anchor-content\"><div class=\"x-anchor-text\"><div><div>&#8211;\u00a0<a href=\"https:\/\/www.worldfirst.com\/eu\/legal\/\">Legal<\/a><\/div><div>&#8211; <a href=\"\/eu\/compliance\/\">Compliance<\/a><\/div><div>&#8211;\u00a0<a href=\"https:\/\/www.worldfirst.com\/eu\/complaints\/\">Complaints<\/a><\/div><div>&#8211;\u00a0<a href=\"https:\/\/www.worldfirst.com\/eu\/privacy-policy\/\">Privacy policy<\/a><\/div><div>&#8211;\u00a0<a href=\"https:\/\/www.worldfirst.com\/eu\/cookie-policy\/\">Cookie policy<\/a><\/div><div><span class=\"x-anchor-text-primary\">&#8211; <a href=\"https:\/\/www.worldfirst.com\/eu\/legal\/terms-and-conditions\/\">Terms &amp; Conditions<\/a><\/span><\/div><\/div><\/div><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-66 elementor-top-column elementor-element elementor-element-8325878 disclaimer-content\" data-id=\"8325878\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b25c328 elementor-widget elementor-widget-heading\" data-id=\"b25c328\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Enhancing your online security with WorldFirst<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1711a0d elementor-widget elementor-widget-text-editor\" data-id=\"1711a0d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h4><strong>What is PSD2?<\/strong><\/h4>\n<p>PSD2 came into force 13 January 2018, but what exactly is it and what does it mean for you? The revised Payment Services Directive 2 \u2013 or PSD2 for short \u2013 is a European directive aimed at levelling the playing field for payment providers, banks, building societies and financial institutions. Following on from the original Payments Services Directive, PSD2 acts as a catalyst for introducing more secure and innovative payment services throughout Europe. Since 2018, PSD2 has opened competition within the European payment market. Adopted by the European Union, it is far wider reaching than its predecessor, PSD1. You can read more about PSD2 and its implementation in the EU on the Financial Conduct Authority\u2019s (FCA) website.<\/p>\n<h4><strong>Why was PSD2 introduced?<\/strong><\/h4>\n<p>PSD2 was implemented with the objective of prioritizing the customer in every transaction. Historically, customer charges, fees, and costs were often unclear and challenging to assess. PSD2 seeks to address this issue by promoting transparency, establishing minimum service standards, and tightening regulations on complaints procedures and data collection. Its overarching goal is to enhance customer rights, drive competition, and potentially reduce overall costs within the payment services sector.<\/p>\n<h4><strong>Who does PSD2 apply to?<\/strong><\/h4>\n<p>Most directly, firms providing payment services and their customers. In 2018, PSD2 required all payments institutions like WorldFirst, to be re-authorised and re-registered with their national regulators (in our case, the FCA and the DNB). But consumers will also be affected and should benefit from the changes by taking greater confidence that their payments are being handled safely, effectively and securely and that the charges being levied are clear, fair and transparent. Under the new PSD2 rules the use of opaque pricing methods for cross-border payments within the EEA is prohibited \u2013 so you\u2019ll know just how much you\u2019re paying to move your money overseas.<\/p>\n<h4><strong>How WorldFirst complies with PSD2<\/strong><\/h4>\n<p>All WorldFirst customers who are within the EEA have been required to perform additional authorisation at the following stages online:<\/p>\n<ul>\n<li>Login<\/li>\n<li>Adding or managing beneficiaries<\/li>\n<li>Instructing a payment or booking a trade<\/li>\n<\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Related content &#8211;\u00a0Legal&#8211; Compliance&#8211;\u00a0Complaints&#8211;\u00a0Privacy policy&#8211;\u00a0Cookie policy&#8211; Terms &amp; Conditions Enhancing your online security with WorldFirst What is PSD2? PSD2 came into force 13 January 2018, but what exactly is it and what does it mean for you? The revised Payment Services Directive 2 \u2013 or PSD2 for short \u2013 is a European directive aimed at [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":6404,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.2 (Yoast SEO v24.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PSD2 and how we are increasing security | WorldFirst EU<\/title>\n<meta name=\"description\" content=\"Find out how WorldFirst complies with PSD2, a regulation that focuses on more secure payment services throughout Europe\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.worldfirst.com\/eu\/compliance\/psd2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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