Payments firms prepare for new EU accessibility standards

Payments tends to be a volumes business and so payment service providers strive to make their services widely accessible within their chosen markets. When doing so, they should be mindful of not only broad regimes like the UK’s Consumer Duty but also rules that set specific standards on accessibility. One topical example of the latter is the EU Accessibility Act which starts to apply from 28 June.

The Act sets consistent rules across the EU for the provision of products and services to people with disabilities. The range of services covered by the Act includes payment services, e-money and other consumer banking services. In-scope products include smartphones, payment terminals and ATMs.

The EU's new accessibility requirements include:

• providing payment services which are perceivable, operable, understandable and robust,
• ensuring information about the service is understandable and avoids complex language, and
• offering information by more than one sensory channel.

Firms developing consumer-facing services for an EU audience should consider whether these requirements apply to them and what changes they would need to make to their websites, apps and other interfaces as a result.

For more information, Linklaters clients can:

• read our overview of the Accessibility Act, and
• watch our recent webinar: What the EU Accessibility Act means for financial services.