The proposals are among those published in a new FCA consultation document concerning its regulatory technical standards (RTS) for SCA and common and secure methods of communication in the payments and e-money sectors.
The proposals include:
Adding a new exemption from SCA for when customers access their account information though an account information service provider (AISPs)
Mandating the use of dedicated interfaces (such as APIs) by account servicing payment service providers (ASPSPs) to facilitate third‑party provider (TPP) access to retail and SME customers’ payment accounts
Changing requirements for publishing interface technical specifications, availability of testing facilities and fallback mechanisms by account providers
Treating ASPSPs with deemed authorisation under TPR as exempt from the requirement to set up a fallback interface, where the ASPSP has an exemption from its home state competent authority
Increasing the single and cumulative transaction thresholds for contactless payments from £45 up to GBP 100 (or potentially a maximum of GBP 120) and from GBP 130 to GBP 200 respectively.
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