Skip to main content

PSD2 Open Banking

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 payments services providers are required to provide application programming intefaces (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 payments account information and initiate payments through authorised third-party payment service providers (TPPs). Users will be able to control this through a dedicated interface where they control the access levels, between the Account Information Servive (AIS) and Payment Initiation Services (PIS) options.

  • AIS pulls data from your bank accounts and accumilates their information in the same location, through a certified TPP.

  • PIS allows secure checkouts on any website that supports it.

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 has allowed SumUp to enable a publicly available test environment for TPPs to test the Open Banking APIs where technical documentation is also available.

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 2020to31st December 2020PDF
1st January 2021to31st March 2021PDF
1st April 2021to30th June 2021PDF
1st July 2021to30th September 2021PDF
1st October 2021to31st December 2021PDF
1st January 2022to31st March 2022PDF
1st April 2022to30th June 2022PDF