PSD2 Open Banking
Learn how SumUp supports PSD2 Open Banking, including merchant impact, TPP access, and interface performance reports.
Payment Services Directive 2 is a European directive that regulates payment services and payment service providers throughout the European Union (EU) by creating a more integrated payments market. The directive also promotes safer payments and consumer protection.
As part of PSD2, all payment service providers are required to provide application programming interfaces (APIs) that permit third parties to electronically access financial information in a secure and efficient manner, and only with customer approval.
To ensure the above, SumUp has partnered with Token.io to handle the data exchange.
The regulation allows users to access their payment account information and initiate payments through authorized third-party payment service providers (TPPs). Users can control this through a dedicated interface where they manage access levels between the Account Information Service (AIS) and Payment Initiation Service (PIS) options.
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AIS pulls data from your bank accounts and accumulates their information in the same location, through a certified TPP.
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PIS allows secure checkouts on any website that supports it.
Impact on SumUp Merchants
Section titled “Impact on SumUp Merchants”All SumUp merchants who have connected their SumUp Card to their SumUp Business Account will find additional controls for allowing TPPs to access their account information through a dedicated interface. The SumUp Business Account information and payment initiation through a TPP will be performed in a secure and safe manner, upon the explicit approval of the merchant.
Our partnership with Token.io(Opens in a new tab) has allowed SumUp to enable a publicly available test environment(Opens in a new tab) for TPPs to test the Open Banking APIs where technical documentation is also available.
Interface Availability & Performance Data
Section titled “Interface Availability & Performance Data”We publish statistics every three months about the performance of our Open Banking services. You can find the quarterly reports below:
| 1st October 2020 | to | 31st December 2020 | |
| 1st January 2021 | to | 31st March 2021 | |
| 1st April 2021 | to | 30th June 2021 | |
| 1st July 2021 | to | 30th September 2021 | |
| 1st October 2021 | to | 31st December 2021 | |
| 1st January 2022 | to | 31st March 2022 | |
| 1st April 2022 | to | 30th June 2022 | |
| 1st July 2022 | to | 30th September 2022 | |
| 1st October 2022 | to | 31st December 2022 | |
| 1st January 2023 | to | 31st March 2023 | |
| 1st April 2023 | to | 30th June 2023 | |
| 1st July 2023 | to | 30th September 2023 | |
| 1st October 2023 | to | 31st December 2023 | |
| 1st January 2024 | to | 31st March 2024 | |
| 1st April 2024 | to | 30th June 2024 | |
| 1st July 2024 | to | 30th September 2024 | UK IE |
| 1st October 2024 | to | 31st December 2024 | UK IE |
| 1st January 2025 | to | 31st March 2025 | UK IE |
| 1st April 2025 | to | 30th June 2025 | UK IE |
| 1st July 2025 | to | 30th September 2025 | UK IE |
| 1st October 2025 | to | 31st December 2025 | UK IE |