The European Banking Authority (EBA) has issued a critical clarification on the provision of payment services relevant, in particular, to non-EU Payment Service Providers (PSPs), including those licenced in the UK, interested in providing payment services to EU customers on a cross-border basis. This guidance addresses key questions around market access, licensing requirements, and cross-border service provision, ensuring greater consistency across the EU. We are proud to see that this clarification aligns closely with the legal advice and PSD2 interpretations we have been providing to our clients on this topic for years. This expertise reflects our deep understanding of payment law and our commitment to ensuring our clients stay ahead of the curve in a complex regulatory environment.
This clarification is a game-changer for non-EU PSPs operating in the EU market without an EU licence or for EU businesses/merchants receiving services from such providers. It highlights important considerations for compliance and the conditions under which third-country PSPs can operate within the EU market.
At Dalir Law Firm, we specialise in payments law and are uniquely positioned to help businesses:
✅ Understand the regulatory framework for third-country providers under PSD2;
✅ Assess the impact on cross-border operations and partnerships;
✅ Ensure compliance with evolving EU and UK regulatory requirements.
If your business relies on its UK licence to provide payment services on a cross-border basis to EU customers, this is a vital moment to review your strategy and ensure alignment with the latest guidance.
📩 Contact us at lawfirm@dalir.co.uk to discuss how these changes may impact your operations and how we can support you in navigating this complex regulatory landscape.
