Skip to content

Joining other organisations, we are official partners with the regtech solution company Konsentus. This partnership allows us at Transact Payments Limited to offer our customers with Konsentus’ Third Party Provider identity and regulatory checking service, which enables PSD2 open banking compliance.

Konsentus Partnership

As a licensed Electronic Money Institution, we are committed to providing our clients with flexible payment solutions. Our Managing Director, Kriya Patel, has shared his thoughts on the partnership, stating that: is : “We provide our clients with innovative and flexible European BIN sponsorship and modular payment, debit, credit, and prepaid services; it’s crucial that we can offer our clients expert and trusted services which are fully PSD2 open banking compliant. With only five months to go before our programme managers need to comply, we felt Konsentus offered the perfect plug and play solution for TPP identity and regulatory checking services.”

These feelings are reciprocated by Konsentus, with their Chief Commercial Officer, Brendan Jones,  saying; “We are delighted to welcome Transact Payments Limited to the growing network of market leading issuers, such as Wirecard, and processors like GPS, who understand the value and offer that Konsentus can deliver to their customers. We will be announcing more partners over the coming months.”

Konsentus has the r developer resources and production systems required to effectively support FIs as they build out their PSD2 open banking solutions. Their range of resources covers:

  1. Swagger documentation
  2. Core TPP Identity & Regulatory checking sandbox
  3. Sandbox complying to OBIE standards
  4. Live cloud-based production environment with restful APIs

The March 14, 2019 deadline is fast approaching for FIs to meet the PSD2 open banking regulations. ~The EBA has stated:

* “The legal and regulatory requirements apply as and when they are issued by the EBA and the national authorities.”

* “Ignorance of them can of course not be used to justify non-compliance.”

* “Non-compliance amounts to a breach of law, with the resultant consequences for the legal entity.”

Back to News