PSD2 is expected to transform the European financial sector, establishing Open APIs for banking. The directive aims to increase competition and transparency in the European payments market, improve access to accounts and strengthen internet banking security. As a consequence, banks have to implement an Open API enabling third parties to access customer data securely using SCA (Secure Customer Authentication).
The company’s payment solution helps online marketplaces expand beyond their borders and simplify the transaction process.The service model means the company collects all funds on behalf of the marketplace operator, the marketplace operator becoming an agent of the company, a licensed payment service provider, which removes the need for the marketplace operator to upgrade its company structure to become a licensed payment service provider itself. The new solution also takes care of KYC requirements, including identification and validation of sellers before any transactions are made, in compliance with mandatory identification obligations.
Marketplace operators can opt to use Ingenico API for a customized implementation of the marketplace solution, or use a dedicated connector for one of the platforms for marketplaces, such as Mirakl or Izberg.
For more information about Ingenico Group, please check out a detailed profile of this company in our dedicated, industry-specific online company database.
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