BlueSnap, a payment solutions provider for the card-not-present marketplace, has been authorised as a payment institution by the UK Financial Conduct Authority (FCA) under the payment services directive (PSD).
The license will validate BlueSnap as a trusted payment partner for European merchants. It will also enable the company to further enhance its global payment gateways.
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The PSD will assist payments industry in facilitating transactions across Europe efficiently and with more transparency, providing for sufficient government oversight for the protection of consumers.
PSD, an EU-wide regulation, provides for licensing of payment institutions and requirements regarding payment services.
The license will be only issued to firms that satisfy requirements set forth by the FCA and which fulfil a set of rules and obligations to ensure quality and stability of the international payment sector.
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By GlobalData
