Regulations and general guidelines governing payment institutions and registered payment service providers

Regulations and general guidelines governing payment institutions and registered payment service providers

In force from 2010-08-01

Summary

As of 1 August 2010, authorisation is required to provide payment services. Undertakings that have not received authorisation to conduct payment service business through another authorisation must apply for authorisation from Finansinspektionen.

The regulations contain rules on the information that shall be included in an application and on the reporting of payment institutions and registered payment service providers. The regulations also contain rules for protecting the funds of payment service users. There are also special requirements for payment institutions on their organisation and the calculation of capital requirements.

The regulations are based on the Payment Services Act (2010:751) and together with the Unauthorised Transactions with Payment Instruments Act (2010:738) implements the Payment Services Directive – Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007 on payment services in the internal market amending Directives 97/7/EC, 2002/65/EC, 2005/60/EC and 2006/48/EC and repealing Directive 97/5/EC.

Amendments

FI is repealing certain provisions and amending other provisions, all of which apply to registered payment service providers. For example, some provisions are repealed that refer to the information an actor applying for exemption from the authorization obligation must submit to FI. Other provisions are being amended so that they only apply to the provision of account information services. Furthermore, provisions are repealed that regulate the possibility for registered payment service providers to apply to provide additional payment services. The amendments are made to adapt the regulations to amendments to the Payment Services Act (2010:751). The amendments to the act entail, among other things, that the possibility for exemption from the authorisation obligation is removed for all payment services except account information services. This means that only actors that provide account information services can be registered payment service providers. FI is also amending the provisions on the calculation of capital requirements for payment insitutions and institutions for electronic money that provide payment services that are not linked to the issuance of electronic money.

The amendments enter into force as of 1 July 2025. Amendment FFFS 2025:4

The amendments entail that some provisions are repealed or amended to avoid duplicate regulation in relation to EU Regulation on digital operational resilience for the financial sector (the DORA Regulation) and that some provisions are clarified with regard to what needs to specified in the business plan pursuant to the DORA Regulation.

The amendments enter into force on 17 January 2025. Amendment 2024:24

References to applicable regulations regarding ownership, ownership management and management assessments are being revised due to FFFS 2023:12 replacing previous regulations in the area.

The amendments enter into force on 18 July 2023. Amendment 2023:14

FI is making minor amendment in the regulations regarding payment service business. The amendments are related in part to the information registered payment service providers and payment institutions must report to FI, and the regulations have been clarified regarding which money laundering information the undertakings shall submit when applying for authorisation to conduct business. Amendment 2019:11

FI must amend the regulations due to amendments to Finansinspektionen's regulations and general guidelines (FFFS 2014:12) regarding prudential requirements and capital buffers. The references to sections that have been repealed have been removed.

The regulations enter into force on 15 June 2019. Amendment 2019:3

The Payment Services Act was amended on 1 May 2018 to include new types of payment services. FI is therefore now amending the regulations regarding governance and control forms, the regulations regarding what must be included in an application for authorisation, and the exemptions from the authorisation obligation in accordance with the Payment Services Act (2010:751).

The amendments are part of the implementation of the second EU Payment Service Directive, which introduces new requirements for payment institutions and registered payment service suppliers. Amendment 2018:6

Finansinspektionen is replacing references to the Money Laundering and Financing of Terrorism (Prevention) Act (2009:62) with references to the new Anti Money Laundering and Terrorist Financing Act (2017:630) and the new regulations. Amendment 2017:12

Due to the Capital Requirements Regulation and the new Credit Institutions and Securities Companies (Special Supervision) Act (2014:968), FI is updating references to acts and regulations that have been repealed and with references to the acts and regulations that replaced them. The amendments enter into force on 2 August 2014. Amendment 2014:20

Due to the new regulations on e-money, Finansinspektionen is harmonizing FFFS 2010:3 to the greatest extent possible with the operational regulations in the e-money and payment service sector and correcting some minor errors. One important change is that a person who intends to become an owner of a registered payment service provider no longer needs authorisation. Instead, an obligation is introduced to provide notification about new owners and their management. The amendments will enter into force on 1 December 2011. Amendment 2011:51

Documents

FFFS 2010:3

Changes

Number

FFFS 2025:4

Date

2025-07-01

Heading

FFFS 2025:4

Number

FFFS 2024:24

Date

2025-01-17

Heading

FFFS 2024:24

Number

FFFS 2023:14

Date

2023-07-18

Heading

FFFS 2023:14

Number

FFFS 2019:11

Date

2019-07-15

Heading

FFFS 2019:11

Number

FFFS 2019:3

Date

2019-06-15

Heading

FFFS 2019:3

Number

FFFS 2018:6

Date

2018-05-01

Heading

FFFS 2018:6

Number

FFFS 2017:12

Date

2017-08-01

Heading

FFFS 2017:12

Number

FFFS 2014:20

Date

2014-08-02

Heading

FFFS 2014:20

Number

FFFS 2011:51

Date

2011-12-01

Heading

FFFS 2011:51