Requirements to operate as a payment initiation service provider

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Question:

What are the requirements to operate as a payment initiation service provider?

Published: 26 September 2017

Answer:

Businesses wishing to provide payment initiation services must hold a licence1 for payment service 7 as referred to in Annex 1 to PSD2. It is not possible to conduct these activities under an exemption as may be the case for certain other payment services.

Licence applications must be submitted through the Digital Supervision Portal.

See here for further information about the procedure for applying for a licence and handling times.

Footnotes

[1] In order not to be in violation of the prohibition on operating as a payment service provider without holding a licence as referred to in Section 2:3a of the Wft.

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