Requirements to operate as a payment initiation service provider

Q&A

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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 licence 1 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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