1. General
1.1 We are Mastercard OB Services UK Limited (“MCOBS UK”, “we”, “us” and “our”) providing the Services (as defined in section 2.1 below),registered in England and Wales, company number 12507991 with registered offices at 1 Angel Lane, London EC4R 3AB, UK.
1.2 We are regulated by the Financial Conduct Authority (“FCA”) under the Payment Services Regulations 2017 as an authorised payment institution (firm reference number:1007177 with permission to conduct payment initiation services comprising the Services (as below). For details on how to contact the FCA, please visit https://www.fca.org.uk/contact.
1.3 MCOBS UK is registered with the Information Commissioner's Office, with reference number C1509955. Visit www.ico.org.uk for more information. Our VAT registration number is:GB710598928.
1.4 These terms of use (“Terms of Use”) apply for access and use to our website (at https://www.mastercard.com/gb/en/business/open-finance/seamless-payments.html#PIS) and any other subdomain of our website used for providing the Services to you (“Website”) and Services (as defined in section 2.1 below). By using our Services, you, (“you” or “your”) accept the Terms of Use and enter into a legally binding agreement with MCOBS UK, together with any other terms you accept by using the Services (the “Agreement”). Please read these Terms of Use carefully before continuing.
1.5 You may only use the Services if you are 18 years of age or older and a resident in the UK.
1.6 You may view an up-to-date copy of these Terms of Use [ Terms of Use for Pay - Mastercard OB Services UK] at any time or request us to send the latest version of the Terms of Use to your email address.
1.7 We have used these words to make our Terms easier to understand:
1.7.1 The Payee (“Payee”) is the intended recipient of your payment. It can be a company, a business or an individual.
1.7.2 A (“Service Provider”) that provides their own service(s) to the Payee under an agreement between the Payee and the Service Provider (a “Service Provider Agreement”).
1.7.3 To be able to make a payment, you need an account with a bank or Payment Provider that you can access online (“Payment Account”) for you as a payment service user for which we are able to provide payment initiation services (“Payment Account Provider”).
1.7.4 Your bank is the financial institution where you hold one or more Payment Accounts that you want to make the payment from.
2. Our Services
2.1 Our Service will allow you to make online payments directly from your Payment Account in a simple and secure way (each act a “Payment Transaction”). We do this by initiating a payment on your behalf (“Payment Initiation”). Depending on the payment options the Payee makes available, the service provided to you will consist of the following:
2.1.1 A one-time Payment Transaction to your Payee using a ‘single use consent’; and
2.1.2 multiple Payment Transactions to your Payee using a ‘recurring use consent’ within specific rules (for example, limits, dates and frequencies) selected by you during the consent process.
2.1.2.1 Recurring use consent is given by way of a “VRP Mandate” to authorise VRPs and cVRPs. Reference to the VRP Mandate shall refer to both VRP and cVRP as defined in clauses 2.1.2.2 and 2.1.2.3, below.
2.1.2.2 Variable Recurring Payments (“VRP”) is a feature that enables account-to-account payments via our Open Banking Services. Parameters are established in advance under the VRP Mandate, including but not limited to the amount, frequency and duration.
2.1.2.3 Commercial Variable Recurring Payments (“cVRP”) support commercial transactions and will allow you to authorise businesses and service providers to collect variable payments directly from your bank accounts.
2.2 The service described in these Terms of Use are referred to as the “Services” and further explained in the sections below.
2.3 Where you have a VRP Mandate set up, payments will only be made if your Payment Account Provider supports this feature.
2.4 To use the Services, you must be the account holder (or authorised to act for the account holder) of the Payment Account held with a Payment Account Provider being used to make the payment. You confirm to us that have permission to use and access the Payment Account and to allow us to provide the Services on your behalf.
2.5 The Payment Account must be accessible online. Your Payment Account Provider is responsible for making their systems available and compliant under applicable laws to support the Service. Our Services are available to support many Payment Account Providers; however, we are unable to guarantee that all providers are supported or always available and accept no responsibility for any non-availability from any Payment Account Provider.
Payment Initiation
2.6 Eligibility and availability: You can only use the Services if:
- you fulfil the age and residence requirements in section 1.5;
- you have a Payment Account and Payment Account Provider located in the UK;
- you provide us with accurate, complete and up to date information on your identity and any other information we may ask from you;
- you agree to this Agreement and using our Services in accordance herewith, and
- you agree to comply with all applicable laws and regulations.
2.7 When you choose to use our Service, we inform the Payee or their Service Provider that you wish to pay using this option. You will be redirected to MCOBS UK to continue the payment.
2.8 You will choose the Payment Account Provider, accept our then current Terms of Use and confirm the Payment Initiation details, such as 1) the amount; 2) payment account details ; and 3) the Payee, (together items 1, 2 and 3 being the “Instruction”). Whilst the Payee, or their Service Provider may, provide information regarding the Payee (including details of the payment account of the Payee to which you wish to send the payment) and the amount, it is your responsibility to ensure the Instructions are correct. By confirming your Instruction, you give us your explicit consent to ask your Payment Account Provider to make the payment on your behalf from your Payment Account.
2.9 Further, you consent to us collecting, storing, and sharing your Payment Account holder name(s), account number and sort code with the Payee, if needed to process a refund to you. You will then be redirected to your Payment Account Provider to securely authenticate and confirm the payment, using the login credentials or other security credentials required by your Payment Account Provider (“Login Details”) and select your Payment Account from which you wish to make the payment. Using the Services to initiate payment means that you agree that we forward your Instruction to your Payment Account Provider. If you have set up a VRP Mandate, payments will only be made in accordance with parameters set and agreed by you.
2.10 Once your payment request has been accepted and authorised by your Payment Account Provider, we will provide you with a reference number and the amount of the Payment Transaction. If your Payment Account Provider does not authorise the Payment Transaction, we will notify you as soon as possible.
2.11 You are not able to revoke a Payment Initiation with us after having given consent to initiate the Payment Transaction.
2.12 We treat your Instruction to initiate the payment as received when you submit your Instruction. Your Payment Account Provider is responsible for carrying out the Payment Transaction, which may take place at a later date, depending on your agreement with them.
2.13 We pass your Instructions to your Payment Account Provider. Your Payment Account Provider determines whether to make the Payment Transaction and how long it takes. You are responsible for making sure that the information you provide is correct and there are enough funds in the selected Payment Account. You may cancel your VRP Mandate at any time as set out in section 10 below.
2.14 We accept no responsibility if your Payment Account Provider declines or fails to execute any Payment Transaction initiated by us on your behalf in accordance with Instructions given to them by us.
2.15 As part of your acceptance of these Terms of Use you agree to us disclosing details of any Payment Initiation to the relevant Payee (or their payment service provider) or to the Service Provider.
3. Role and independence of a Payee and their Service Provider
3.1 When you are referred to use our Services from a Payee or Service Provider, the Payee or Service Provider may give us information to complete your Instructions, as defined above. By continuing to use our Services you accept that we have no ability or responsibility to validate the Instructions provided and it is your responsibility to verify the accuracy and completeness of the Instruction.
3.2 We do not verify or take any responsibility for:
- the adequacy, quality or legality of any services agreed to be provided to you by a Payee; or
- any determination by any Service Provider (acting on behalf of a Payee) as to the appropriate Payee in respect of any Instruction given in accordance with section 2.8 above.
3.3 The Payee and their Service Provider are independent from us. They do not act on our behalf or have any authority to bind us in connection with these Terms of Use or any aspect of the Services.
4. Use of the Services
4.1 When you use the Service in a way that involves third party data, you are fully responsible for obtaining any and all necessary consents or another valid legal basis to do so.
4.2 The Services are provided on an “as-is” basis. We make no warranty as to your use of the Services. You assume any and all risk of using the Services. We provide no guarantee that the Services meet your specific needs or always be available. Except where specially stated in these Terms of Use, we make no promises about data quality, service performance or uptime. We have taken reasonable steps to ensure that the Services comply with all applicable laws.
5. Fees
Your use of our Service is provided free of charge by MCOBS UK. Other parties, such as the Payment Account Provider, Payee, or your internet or mobile provider, may charge you fees. These fees are between you and them, not us. In some cases, third parties may pay us for providing our services.
6. Security measures
6.1 If we suspect illegal activity or security risk, we may take steps to protect you and the Service. This may include taking appropriate actions, such as keeping records or temporarily stopping the payment. This may include suspicion of abuse, fraud or money laundering. We undertake to investigate any usage irregularities as soon as possible. We shall not be liable to you or any third party for blocking or suspending the Payment Initiation. We may refuse, suspend or terminate your use of the Services pending the situation being resolved.
6.2 You agree to follow the security requirements regarding your Login Details set out by your Payment Account Provider and/or provider of the security credentials. If you suspect any abuse of your Login Details, you must immediately contact your Payment Account Provider.
6.3 Any Payment Transaction executed via the Services with the use of your Login Details shall be deemed carried out by the authorised owner of the Payment Account. You are responsible for keeping your Login Details safe. If you do not do this, you may be liable for unauthorised Payment Transactions.
6.4 When you use our service, your information is protected using encryption. Your Login Details are securely passed to your bank but are not stored by us. We keep records of how the service is used, including access attempts, to help keep the service secure.
7. Obligation to provide information
7.1 We are required by law to ensure that the Service is not used for illegal purposes, including money laundering and terrorist financing. For this reason, we may take appropriate steps such as keeping records, reviewing transactions, and asking you for additional information. This information may be needed to confirm your identity, the purpose of a payment, or the source of the funds.
7.2 By accepting these Terms of Use, you agree to provide to MCOBS UK, immediately any and all information required for this purpose and recognise that non-compliance with MCOBS UK’s requests may result in refusal to complete a Payment Initiation or other consequences.
8. Intellectual property rights
8.1 MCOBS UK is the owner or the licensee of all intellectual property rights in the Services, and the Website and its content, and the Mastercard name and mark. These rights are protected by copyright laws and treaties around the world. All such rights are reserved.
8.2 You are not granted any right to use, and may not use, any of our intellectual property rights other than as set out in these Terms of Use.
8.3 No part of the Website may be copied, reproduced, republished, uploaded, re-posted, modified, transmitted or distributed or otherwise used in any way without our prior written consent.
8.4 You are granted a non-exclusive right of use to the Services in accordance with these Terms of Use.
9. Operations
9.1 The Services shall be provided in a professional manner, with reasonable skill and care, in line with applicable law. Where the Services are dependent on third parties, including Payee or Service Providers and Payment Account Providers, no guarantees can be made as to time of performance of the Services.
9.2 We aim to keep the Website and Services running smoothly, but errors, defects and disruptions may still occur. Please report any issues by using this link: https://www.mastercard.com/gb/en/business/open-finance/open-finance-complaints.html.
9.3 Routine and emergency maintenance and updates on the Services and the Website are performed regularly. During routine and emergency maintenance and updating, certain or all features may become temporarily unavailable. As part of an update, one or more features may be removed from the Services.
9.4 To the extent reasonably possible, we will notify you in advance of major disruptions to the Services, either on the Website or, via email. The same applies to the possible removal of functions. We are not obliged to provide such information.
9.5 Content on the Website about the Service is provided for information purposes only. We do not guarantee the reliability, availability, timeliness or accuracy of such content. You are solely responsible for securing and backing up the information we make available to you relating to the Services that you access through the Website in accordance with these Terms of Use.
9.6 We aim to ensure the Website and the Services are available on a 24/7 basis, but we make no representation, and give no warranty or undertaking, that the operation or availability of the Website will be uninterrupted or error-free. In particular, we shall not be liable or responsible for any unavailability or issue with the Website which is caused by: 1) your breach of these Terms of Use; or 2) use of the Website contrary to our instructions; or 3) modification or alteration of the Website by any party other than us.
9.7 We do not control internet availability or speed. While we try to make the website accessible, we are not responsible for delays caused by internet problems.
9.8 We do not guarantee that the Website will be totally secure or free from bugs or viruses.
9.9 You must not misuse the Website by knowingly introducing viruses, trojans, worms, logic bombs or other material which is malicious or technologically harmful.
9.10 You must not try to access the Website or its systems including, any servers, computers or databases connected to the Website or interfere with how the Website works. This includes attacking the Website via a denial-of-service attack or a distributed denial-of service attack. These actions are illegal. We will report such action to the relevant law enforcement authorities and will share relevant information with them including but not limited to disclosing your identity. Your right to use the Website will cease immediately.
10. Cancelling a VRP Mandate
10.1 You can cancel a VRP Mandate at any time through:
10.1.1 notifying the Payee or if applicable, through the Payee’s website that you used to set up the VRP Mandate if such functionality is made available by the Payee: or
10.1.2 methods provided by your Payment Account Provider, including, as applicable, via their website, mobile banking application, telephone banking or branch servicing.
11. Withdrawal of consent
11.1 When you provide a single use consent (as set out in clause 2.1.1 above) for one Payment Transaction, your consent is only valid for just that one time. This means that you cannot withdraw your consent after your payment request has been received by us and the service has been provided to you.
11.2 When you provide a recurring use consent (as set out in clause 2.1.2), we will ask your Payment Account Provider to make each payment in accordance with your VRP Mandate. Whilst your VRP Mandate is in existence:
- you cannot cancel any payment requests that have already been received by us and where the service has been provided to you.
- Should you wish to cancel future payment requests (pursuant to your VRP Mandate), you may cancel your VRP Mandate as set out in clause 10.1 above.
11.3 If you choose to cancel your VRP Mandate by notifying the Payee (in accordance with clause 10.1 above), we will notify your Payment Account Provider of the cancellation promptly upon receiving the notification from your Payee or Service Provider.
Whether you decide to cancel your ongoing payments pursuant to your VRP Mandate by contacting the Payee or the Payment Account Provider, cancellation will be effective from point of notification. At such time, your VRP Mandate and your consent will be considered revoked, and no future payments will be initiated on this Mandate.
At the point of notification, payments already initiated or irrevocably processed may still be completed.
You can check your cancelled mandate via your Payment Account Provider’s page or check their provider's Open Banking connections page to confirm that the consent is now showing as revoked.
11.4 If you have questions or requests regarding a Payee or Service Provider’s processing of your data or if you wish to make use of your legal rights regarding such processing, you should contact the Payee.
12. Liability
12.1 Nothing in these Terms of Use excludes or limits our liability for:
12.1.1 death or personal injury caused by our negligence;
12.1.2 fraud or fraudulent misrepresentation; and
12.1.3 any matter in respect of which it would be unlawful for us to exclude or restrict our liability.
12.2 If we fail to comply with these Terms of Use, we are responsible for loss or damage you suffer that is a reasonably foreseeable result of our breach of these Terms of Use or our negligence, but we are not responsible for any loss or damage that is not reasonably foreseeable. Loss or damage is reasonably foreseeable if it was an obvious consequence of our breach or if it was contemplated by you and us at the time that you used the Services.
12.3 If you think that we have incorrectly initiated a Payment Transaction from your Payment Account (an “Initiated Payment”) - for example, on the basis that you have not authorised the Initiated Payment or that the Initiated Payment has been sent at the wrong time or to the incorrect Payee, then you should contact us at OpenBankingUK_Support@Mastercard.com, and your Payment Account Provider as soon as possible, (and in any event no later than 13 months after the relevant Initiated Payment was made).
12.4 We will work with your Payment Account Provider to assist you in relation to any Initiated Payment which you consider to be incorrect or unauthorised. However, it is your Payment Account Provider who is liable to refund you or provide some other form of compensation. In any event, you acknowledge that we will have no liability:
12.4.1 where you have acted fraudulently;
12.4.2 where we have acted at all times faithfully on your instructions;
12.4.3 for losses resulting from abnormal and unforeseeable circumstances beyond our control;
12.4.4 where you have failed to notify us of the relevant Initiated Payment within 13 months of the date on which it was made; or
12.4.5 where you have failed, either intentionally or with gross negligence, to comply with these Terms of Use.
12.5 We are not responsible for errors or missing information provided to us by your Payment Account Provider.
12.6 We shall never be liable for non-compliance with these Terms of Use or for damages or losses in case of force majeure or caused by circumstances beyond our control, that we could not reasonably predict or avoid.
12.7 We are not liable to users of the Services and/or the Website in the event of errors, defects, malfunctions or removal of functionality besides what follows on MCOBS UK’s liability under applicable law.
12.8 You shall indemnify and keep us indemnified against any losses, damages, reasonable costs and expenses or fines we may suffer or incur arising under or in connection with you initiating unlawful Payment Transactions on your Payment Account pursuant to the payment initiation services.
12.9 Nothing in these Terms of Use affects your statutory rights. Advice about your statutory rights is available from your local Citizens' Advice Bureau or Trading Standards Office. If we, regardless of the above, should be liable, our total liability shall not exceed an amount of £250 unless otherwise stated in mandatory law.
13. Communication between us and you
13.1 You accept that communication between you and us may be online or through email. The Agreement and the Terms of Use have been entered into in English, and we will communicate with you in English.
14. Changes to these Terms
14.1 We may change these Terms of Use from time to time. Where you have an active, ongoing consent, we will notify you of the updated Terms. The change will apply from 60 days after we notify you. Notifications will be issued by email or via the Website.
14.2 If you are using the Service on a one-time basis only, or if ongoing consent has ended and not been renewed, these changes will not apply to you, and you will not be notified. If you later choose to use the Services again, you will be asked to review and accept the current version of these Terms. Changes required by law or regulation may take effect immediately or on shorter notice.
14.3 Continued use of the Service and/or Website is considered as your acceptance of the changes to the Terms of Use.
14.4 If you do not agree with the changes to the Terms of Use, you must terminate your VRP Mandate effective immediately as per 10.1, above. You may inform us that you reject the changes at OpenBankingUK_Support@Mastercard.com within 60 days of our notification. The Agreement shall immediately end when the changes would otherwise take effect, and you will no longer be able to use the Service.
14.5 Every time you use the Services or access the Website, please check section 20 below for the then current Terms to ensure you understand the Terms of Use that apply at that time.
15. Confidentiality
15.1 We will keep your Payment and account information confidential. We will take technical and organisational measures to keep your information secure. In assessing the appropriate level of security, we will take into account current industry standards. As well as the type of information involved and the risks to you, including the risk of loss, misuse, or unauthorized access the costs of implementation and the nature, scope, context and purposes of its holding, processing and transmission of such information, the risks to you that are presented by such holding, processing and transmission, in particular from accidental or unlawful destruction, loss, alteration, unauthorised disclosure of, or access to such information so transmitted, stored or otherwise processed.
16. Term and termination
16.1 These user terms (“Terms”) are the agreement between you and us when you use our Service. These Terms of Use remain in effect unless and until they are ended in accordance with these Terms of Use.
16.2 For Single Immediate Payments, the Agreement is terminated immediately after use of the Services.
16.3 Where you have an active, ongoing consent, we may terminate this Agreement at any time by giving you at least ninety (90) days’ prior written notice, setting out the specific reasons for termination. Notice will be provided via email. The notice will also inform you of your right to complain to us and to the Financial Ombudsman Service.
16.4 Where permitted by law, we may terminate this Agreement without giving any prior notice (for example, where you have knowingly provided incorrect information to us).
16.5 Notwithstanding clause 16.2 above, if you breach any term of these Terms of Use, we may, at any time and without notice:
16.5.1 suspend or stop your use of the Services
16.5.2 issue legal proceedings against you for reimbursement of all costs resulting from the breach (including, but not limited to, reasonable administrative and legal costs);
16.5.3 take further legal action against you; and/or
16.5.4 share information with law enforcement where reasonably necessary.
16.5.5 ‘Material breach’ shall include but not be limited to:
- abuse, or attempt to, abuse the Services;
- actions or omissions by you which could lead to damages to MCOBS UK or any third party as well as any other illegal behaviour.
16.5.6 Where circumstances allow, we will notify you of suspension of the Agreement.
16.6 If we terminate your right to use the Services and to access the Website, all rights given to you under these Terms of Use and the Agreement will also end.
16.7 Your right to use the Services so far as they relate to any specific Service Provider will automatically end if we stop working with that Service Provider.
17. Other important terms
17.1 We have the right to transfer our rights and obligations under the Agreement.
17.2 You have the right, upon request, to receive a copy of these Terms of Use. Contact us at OpenBankingUK_Support@Mastercard.com with your request.
17.3 These Terms of Use, together with any other terms you accept by using the Services, constitute the entire agreement between us and you in relation to its subject matter. They replace all prior agreements, representations, undertakings and warranties made by or on behalf of either us or you, whether oral or written.
17.4 When entering into the Agreement, you and we acknowledge that:
- no reliance has been placed on any statements or undertakings, whether oral or written, made by or on behalf of the other party which are not set out in the Agreement.
- Each of us gives up all rights and remedies which might be available to us in relation to any such collateral warranties, collateral contracts, statements, representations or undertakings.
17.5 If we do not enforce a right under these Terms of Use, or if we do not enforce our rights against you, or if we delay in enforcing it, this does not mean that we give up that right against you and will not mean that you do not have to comply with those obligations. If we overlook a breach by you, we will only do so in writing. This does not mean that we will continue to overlook it in the future or any similar or other breach.
17.6 If any part of these Terms of Use is found to be invalid or unenforceable the rest of the Terms will still apply.
18. Complaints and making contact
Making a complaint
18.1 If you wish to complain, please contact us at OpenBankingUK_Support@Mastercard.com stating “Complaint” as the subject field of your email, or by writing to us with “Complaint” as the subject, at:
Attention: Complaints Officer
Mastercard OB Services UK Limited
1 Angel Lane
EC4R 3AB
London, UK
We will try to resolve the matter and avoid it happening again.
18.2 If your complaint relates to the Services, we will send you a final response within 15 business days of your complaint. In exceptional circumstances, tell you:
- Why we need more time; and
- When you will receive our final response, being no later than 35 business days from the date of your initial complaint.
18.3 If you do not receive our final response or you are unhappy with our final response, you may be able to refer the matter to the Financial Ombudsman Service ("FOS"). You can contact the FOS at: The Financial Ombudsman Service, Exchange Tower, London, E14 9SR, UK or by email: complaint.info@financial-ombudsman.org.uk or by calling them on: 0800 023 4567.
18.4 If you do refer your complaint to the FOS, this will not affect your right to take legal action.
Privacy and Data Protection
18.5 You acknowledge that your information is processed by us in accordance with our Privacy Notice, see: Privacy Notice - Mastercard OB Service UK.
Other contact or queries
18.6 You can contact us at OpenBankingUK_Support@Mastercard.com or at our postal address in section 18.1 above. We can email you at any email address you have given us.
19. Governing law, jurisdiction and disputes
19.1 These Terms are governed by the laws of England and Wales.
19.2 Any disputes regarding these Terms of Use will be dealt with by the courts of England and Wales, unless consumer law allows otherwise.
20. Version
20.1 These Terms of Use took effect in April 2026 and are valid until new terms are published.
