What are the requirements to operate as a payment initiation service provider?
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.
[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.
On Tuesday 5th November from 3:00-4:45 PM CET DNB will organize a physical information session about fit and proper assessments.
Read more Information session about fit and proper assessments DNB
Embedded finance offers customers the convenience of in-app payment options and on-the-spot insurance. This seamless integration of financial services, available exactly when and where they are needed, makes life simpler. But this innovation also entails new risks.
Read more Embedded finance: striking a balance between convenience and risk in the digital economy
On Tuesday 28th May from 3:00-4:45 PM CET DNB will organize an online information session about fit and proper assessments.
Read more Information session about fit and proper assessments DNB
The rapid development of artificial intelligence (AI) poses challenges for the supervisory work of the AFM and DNB. The supervisory authorities have published a report with criteria and areas of attention for shaping the supervision of AI.
Read more AFM and DNB publish report on the impact of AI on the financial sector and supervision
