The obligations set out in PSD2 are frequently a friction point for our clients and taking away this area of concern for them gives Toqio a clear market advantage. Mike Galvin, Co-Founder and CCO, of Toqio added, “Embedding the tell.gateway capabilities into the Toqio marketplace is an important step for us. For Toqio clients, having these capabilities pre-built into the Toqio platform removes development costs and complexities as well as accelerating the time to launch.ĭavid Monty, Founder and CEO of tell.money, commented, “In conjunction with tell.money, Toqio has impressive growth plans, and we are delighted to be working with them in making the proposition for their clients as seamless as possible as far as their PSD2 obligations are concerned.” The EU’s revised Payment Services Directive (PSD2) will be implemented in January 2018 and provide non-banks with free access to payment initiation from bank accounts, subject to account holder consent. tell.money takes care of all the PSD2 API-related activities. You can affect the sandbox state using payment APIs to transfer money out of the. The majority of Toqio’s clients need to comply with PSD2 by having a Dedicated Interface, meaning that they are required to have compliant systems to enable ‘Trusted Third Party’ onboarding, consent management, support, regulatory reporting, and publishing of real-time performance web statistics. Access to APIs based on EU PSD2 legislation requires using a set of. PSD2 (by ways of open APIs) will also encourage banks to extend their reach in innovative services which will grow the market further. The bank signals that a new balance is available as soon as money is. Create a test application Subscribe to the test APIs for PSD2 - Sandbox. The legislation under PSD2 is designed to enable consumer access through third-party involvement within an improved customer authentication environment. When it comes to payments, PSD2 APIs are currently limited to single Euro payments. New developer portal for even more convenient access to our Open APIs. Addressing Toqio’s PSD2 (Payment Service Directive Two) requirement to ensure that consumers and SMEs using the services of its clients have access to payments and account information through open banking channels, tell.money has integrated its technology into the Toqio platform.
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