Central Banking

UK payment service providers at risk under ‘no deal’ Brexit

Digital money

Payment service providers in the UK risk being locked out of the European payment infrastructure if the government fails to agree a Brexit deal with its European Union peers, according to a senior lawyer from one of the UK’s major law firms.

Speaking at PayExpo 2018, Paul Anning, a partner at Osborne Clarke, said payment service providers who currently have access to the EU’s Single Euro Payments Area and Target2 payment systems could be excluded if the UK does not remain in the European

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