The Payment Services Directive 2 (PSD2) introduces significant changes for merchant marketplaces. To comply with PSD2, marketplaces have the following options:
Become a Payment Institution:
Description: Marketplaces can obtain a payment institution license.
Considerations: This option involves significant costs and operational changes, requiring compliance with strict regulatory requirements and ongoing supervision.
Outsource Payment Functionality:
Description: Marketplaces can outsource part of their payment functionality to a licensed payment institution such as myPOS.
Benefits: This option allows marketplaces to remain compliant with PSD2 without undergoing the extensive process of becoming a payment institution themselves. myPOS handles the regulatory compliance, security, and operational aspects of payment processing.
By choosing myPOS as your payment partner, you ensure a seamless and compliant payment experience for your customers while focusing on growing your business.