With the newly granted license, SafetyPay has to adhere to a vast array of compliance regulations set forth by the PSD in order to ensure secure transactions. The PSD provides a system of licenses for payment service providers (PSPs), lays down information requirements regarding payment services and lists rights and obligations of both PSPs and users. The aim of this directive is to ensure the safety and efficiency of payments throughout the European Union / European Economic Area, in particular for credit transfers, direct debit mandates, card payments, as well as for money transfer services.
SafetyPay enables online banking customers to make internet purchases from merchants worldwide and pay directly through their bank account without having to disclose any financial information to the merchants.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now