The introduction of Payment Services Directive (PSD2) across the Nordic countries and the EEA (European Economic Area) aims to regulate payment services and payment service providers across the region.
The key objective of PSD2 is to create a single integrated market for payment services with standardized regulations for the banks and payment service providers. PSD2 also seeks to increase competition and participation in the payments industry from non-banks.
The directive allows third-party providers (PSP/AISP) access to customer account data from the respective banks which in turn is used to initiate direct payments.
In order for a PSP/AISP to operate the provider must have a license issued by the local FSA. To get this license, the PSP/AISP must provide a guarantee to the FSA .
Nordic Guarantee has pioneered the development of a PSD2 Guarantee for the Nordic market to address the needs of PSP/AISP to fulfil this licensing requirement. The guarantee covers potential claims, whether caused by error or breaches in data security. Nordic Guarantee’s innovative product is underwritten on commercially attractive terms by a team of technical experts.
“Nordic Guarantee recognizes the potential demand for PSD2 Guarantees and we are in position to offer such guarantees to suitably qualified PSP/AISPs. With an agile business model we have been able to develop this product within a very short time frame, once we identified the demand on the market” comments Andreas Almlid, Country Manager Norway and Nordic Guarantee expert on PSD2.
Short about Nordic Guarantee:
Nordic Guarantee is one of the largest independent issuers of contract guarantees in the Nordic countries. We offer secure guarantees with short processing time and to a competitive pricing. We are about 40 employees with offices in Stockholm, Malmö, Helsinki, Copenhagen and Oslo.
Andreas Almlid, Country Manager Norway and expert on PSD2, phone +47 959 03 646, e-mail firstname.lastname@example.org
Michael Gantén, Marketing Manager, phone +46 765-27 65 17, e-mail email@example.com