British banking group HSBC has introduced a developer portal to enable third party payment providers develop products and services.

The bank said that the move will support compliance with PSD2, which objective is to bring fair competition in the European payments sector.

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Through the portal, developers will be able to test APIs for account information, payment initiation and funds confirmation.

The testing will be carried out in a sandbox environment.

Developers will be able to use mock data from retail as well as corporate payment accounts.

The sandbox testing will offer developers the choice of Open Banking Implementation Entity (OBIE) and STET standards, HSBC said.

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Plans are also on to incorporate the Berlin Group standards.

HSBC global head of global liquidity and cash management digital Nadya Hijazi said: “We are keen to work with multiple parties to develop and test their applications and customer propositions through easy and secure access to the wide range of simulated products and services on our PSD2 Developer Portal.”

HSBC’s recent initiatives in the payment space:

Last month, HSBC announced a beta test programme of its P2P payments app PayMe in Hong Kong.

Furthermore, this January, HSBC unit first direct rolled out a new service called fdpay that supports P2P payments through social media apps.