On 13 January 2018, the Second Payment Services Directive (PSD2) came into effect. This is a piece of EU and UK legislation with which all payment service providers (PSPs) within the European Union must comply. PSD2 continues to apply following the United Kingdom’s departure from the EU.
For Tesco Bank, PSD2 applies to Clubcard Pay+, Credit Cards, Internet Saver Accounts and Instant Access Savings Accounts.
PSD2 provides a legal framework that aims to keep customers safe and secure and creates the opportunity for companies to offer new payment and/or account information (aggregator) services, which customers with a Tesco Bank online payment account can choose to use.
Providers of these new services are called Authorised Third Party Providers (TPPs).
Find out more about how to use TPPs securely.
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