Consent
SecurityCustomer Consent
Definition
Customer consent is the explicit permission given by a payment service user to allow a third-party provider to access their account data or initiate payments on their behalf. Consent is fundamental to Open Banking and must be freely given, specific, informed, and unambiguous. Consent can be revoked at any time by the customer.
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Frequently Asked Questions
What is Customer Consent?
Customer consent is the explicit permission given by a payment service user to allow a third-party provider to access their account data or initiate payments on their behalf. Consent is fundamental to Open Banking and must be freely given, specific, informed, and unambiguous. Consent can be revoked at any time by the customer.
What does Consent stand for in Open Banking?
Consent stands for Customer Consent. It is a fundamental concept in Open Banking and PSD2 regulations. Customer consent is the explicit permission given by a payment service user to allow a third-party provider to access their account data or initiate payments on their behalf. Consent is fundamental to Open Banking and must be freely given, specific, informed, and unambiguous. Consent can be revoked at any time by the customer.
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