Payment service providers face even tougher DP requirements than those under the GDPR

Application Programming Interfaces (APIs) are bringing new open banking initiatives to the forefront of online payment services, with huge potential for innovation.  Although access to data is essential in the rise of APIs, processing personal data for open banking initiatives covered by Payment Services Directives or the Open Banking Standard will always require explicit consent.

You can read more about this in an article I wrote which was recently published in Privacy Laws & Business November UK edition here.