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Code of conduct for indirect access providers

A voluntary Code of Conduct for indirect access providers has been developed, by Pay.UK , in consultation with the Payment Systems Regulator (PSR) and the original Code subscribers. You can view the full Code of Conduct, below.

Code of Conduct for Indirect Access Providers

Administered by Pay.UK, the Code of Conduct reflects the Payments Services Directive (PSD2) relating to indirect access to designated payment systems, and addresses concerns around the commercial access arrangements provided to Payment Service Providers (PSPs) requiring indirect access services.

The Code of Conduct sets out best practice guidance for key elements of the commercial arrangements between indirect access providers and indirect PSPs and details the responsibilities of the code subscribers:-

  • Clarity on the contractual arrangements that govern the supply of indirect access services they receive
  • Security of the supply of indirect access
  • Confidentiality of commercially sensitive information shared with indirect access providers
  • Support in establishing indirect access and switching between providers
  • Appropriate and timely communication between indirect access providers and indirect PSPs regarding the availability of services and planned changes.
  • It aims to improve the experience of indirect PSPs by clearly outlining the responsibilities of organisations subscribed to the code of conduct.

Who the Code applies to

The following indirect access providers have subscribed to the code:

  • Barclays
  • ClearBank
  • HSBC
  • Lloyds Banking Group
  • NatWest Group
  • The Bank of London

 

An indirect access provider may choose to become a Code subscriber if it is registered with, or authorised by, the Financial Conduct Authority (FCA) for activities that include provision of payment services.

Any indirect access provider, wishing to apply to Pay.UK to be registered as a Code subscriber, can contact the Code administrator at Code_Administration@wearepay.uk.

Code Beneficiaries

Code beneficiaries are indirect PSPs that have an agreement for indirect access services to one or more in scope regulated payment systems with an indirect access provider who has subscribed to the Code.

To qualify as a code beneficiary, an indirect PSP must also be:

  • Registered with, or authorised by, the UK FCA
  • Using indirect access services to provide its customers with eligible payment services.

Code Administration

As the Code administrator, Pay.UK is responsible for administering all aspects of the Code and reviewing its effectiveness. This is done through compliance monitoring, engaging with stakeholders, including the Payment Systems Regulator (PSR), and via an annual self-certification process.

Monitoring also includes seeking feedback from interested stakeholders via a Code Consultative Group, established to provide a forum for Code beneficiaries to meet, in order to provide their views on the effectiveness of the Code.

The Code Consultative Group is open to any PSP that has an agreement for the provision of indirect access services with one of the code subscribers (currently Barclays, ClearBank, HSBC, Lloyds, NatWest Group and The Bank of London).

If you require further information on the Code of Conduct, or are interested in joining the Code Consultative Group, then please contact us at Code_Administration@wearepay.uk.

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