The extended CoP eligibility
In addition to those existing participants registered with Open Banking, the CoP eligibility criteria include:
- Those FI's unable or unwilling to meet the full Open Banking PSD2 requirements
- FI's regulated by non PSD2 NCAs, such as those based in the Crown Dependencies
- Accounts addressable by secondary reference data
- PSP's that do not have their own code, such as Collection accounts
These participants will register their interest in CoP via Pay.UK, who will then onboard them onto the Open Banking Directory.
Connecting to CoP through the Open Banking Directory
Pay.UK expanded the Open Banking Directory to enable those new participants to join who only want to use CoP.
These details will be held separately to the full open banking details, and will include:
- The selected CoP role (e.g., Requestor / Responder)
- Key PSP details (e.g., without their own sort code; or accounts addressable by secondary reference data
SurePay’s CoP Auth Server complies fully with the new technical standards and is able to seamlessly connect with the Open Banking Directory.
All eligible PSPs can now easily sign up to SurePay’s CoP service.