WG-REQ-1516 Word-to-A4-PPT-portrait PSD3 IMPACTS-STAGE-3 PRINT3mmBLEED - Flipbook - Page 17
HL | PSD3 Impacts
What is the impact?
This will require ASPSPs to implement a
confirmation of payee service. In the UK, the
service was created by Pay.UK. If a market
solution doesn9t present itself 3 banks will be
required to implement their own solutions.
The requirement is not subject to the corporate
opt-out 3 but the notification period for a
claim is.
If banks operating in the corporate space want
to limit their exposure to this new liability in the
way they currently do for unauthorised or
defective transactions - they will need to have
their corporate customer agree to the change in
the scope of the opt-out.
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