After Brexit 1/1 /2021 .will Cab -app payments still be available if its a British based banking system ?Does anybody know ?
Businesses and other organisations in Ireland that use a UK-based payment service provider to process direct debits are being urged to check they are ready for important changes that will apply after 1 January.
The Banking and Payments Federation Ireland (BPFI) has said if they want to ensure smooth and uninterrupted continuation of the processing of their direct debits following Brexit, organisations must take action now.
According to BPFI, a wide range of businesses in Ireland, from utility companies to membership organisations, use Payment Service Providers based in the UK to process the direct debits of their customers.
However, when the Brexit transition period ends on 31 December, any additional information required must have been added to the direct debit transactions that are given to the UK-based providers.
The extra information typically required is the address of a customer.
But without it the seamless processing of as many as 140,000 recurring direct debits between the UK and Ireland could stop from 1 January.
BPFI thinks 80% of impacted transactions do meet the new requirements, but has advised that organisations and businesses behind the remaining ones need to act now
