PSD2 and Open Banking


Find out about what the Payment Services Directive 2 (PSD2) and Open Banking means for you.



Payment Services Directive 2 (PSD2) is European law that has been translated into UK law as the Payment Services Regulation.


PSD2 introduces increased security and competition within the financial services industry.


Strong Customer Authentication (SCA) is part of PSD2, it focuses on security and provides changes to the way you verify your identity when spending on debit and credit cards.


Another part of PSD2 includes similar services to those contained in the Open Banking rules. Open Banking allows the financial industry to offer new services which let account holders share their financial information. It was introduced by the UK’s Competition and Markets Authority (CMA) to bring more competition to the financial services industry by requiring financial institutions to open up customer and/or payment data to third party providers where customer permission is provided.


This leaflet provides further information about your rights when making payments in Europe.


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Strong Customer Authentication (SCA)

SCA is focused on providing enhanced security when using your Vanquis Credit Card.



What does SCA mean?

Third Party Providers

Third Party Providers (TPPs) have been created with the sole purpose of allowing consumers to take advantage of Open Banking.



Read about TPPs

Your Rights When Making Payments in Europe

EU rules mean your electronic payments are becoming cheaper, easier and safer.


Read your rights