Section 56

This section applies where a person (“the applicant”) applies for an order under this section. The Payment Systems Regulator may by order require the operator of a regulated payment system to enable the applicant to become a payment service provider in relation to the system. The Payment Systems Regulator may by order require any payment service provider with direct access to a regulated payment system to enter into an agreement with the applicant to enable the applicant to become a payment service provider in relation to the system. An order under this section may provide for the applicant to become a payment service provider in relation to a payment system— for a period specified in the order; on terms and conditions specified in the order.

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Source: legislation.gov.uk · retrieved 2026-09-04