Regulatory AlertsNetherlands: fintech & payments regulation
RegulatedDutch fintech: DNB/AFM licensing under DFTA; EU passporting via EMI/PI licence
- Lead regulator
- De Nederlandsche Bank (DNB) & Autoriteit Financiële Markten (AFM)
- Core law
- Wet toezicht financiële ondernemingen 2024 (DFTA)
- Entry capital
- EUR 350,000 (Payment Institution)
- Approval timeline
- 6-9 months for full authorization
- Customer assets
- Segregated or insured; strict safeguarding rules apply
- Data protection
- GDPR · Dutch DPA (Autoriteit Persoonsgegevens)
- Sandbox
- Yes - DNB Regulatory Sandbox
The Netherlands regulates fintech and payments primarily under the DFTA, supervised jointly by DNB (prudential/licensing) and AFM (conduct). Payment service providers must hold a license from DNB, with initial capital requirements starting at EUR 350,000 for standard Payment Institutions. E-money institutions face higher capital floors. The regime is fully aligned with EU PSD2/PSD3 and EMD frameworks, allowing passporting across the EEA.
Which licence do you need?
| Your activity | Requirement | Capital | Timeline | Authority |
|---|---|---|---|---|
| Payment processing / gateway | LicencePayment Institution Requires DNB authorization under DFTA/PSD2 | EUR 350,000 | 6-9 months | DNB |
| E-money & wallet issuance | LicenceE-money Institution Higher capital often required for larger volumes | EUR 350,000 | 6-9 months | DNB |
| Domestic money transfer | LicencePayment Institution Domestic transfers fall under Payment Institution scope | EUR 350,000 | 6-9 months | DNB |
| Cross-border remittance | LicencePayment Institution Cross-border payments require full PI license | EUR 350,000 | 6-9 months | DNB |
| Agent network | RegistrationAgent Registration Agents must be registered with DNB by the licensed PSP | — | — | DNB |
| Open banking / account information | LicenceAccount Information Service Provider (AISP) Requires PI license specifically for AISP services | — | 6-9 months | DNB |
| Foreign-exchange services | LicencePayment Institution FX services are payment services under PSD2 | EUR 350,000 | 6-9 months | DNB |
New — what changed recently
- 2024-01-01DFTA Implementation — The DFTA replaced the Wft financial titles, consolidating supervision of banks, insurers, and payment institutions under a single framework.
Market-entry checklist
- 1Secure DNB AuthorizationApply for Payment Institution or EMI license with DNB, demonstrating fit-and-proper management and robust governance.
- 2Meet Capital RequirementsEnsure initial capital of at least EUR 350,000 is held in a blocked account or as own funds before licensing.
- 3Implement AML/CFT FrameworkRegister with the Dutch Financial Intelligence Unit (FIU-NL) and establish robust KYC/AML procedures compliant with DFTA.
- 4Establish SafeguardingSet up segregated client accounts or insurance to safeguard customer funds as required by PSD2 and DFTA.
- 5Register AgentsIf using an agent network, ensure all agents are registered with DNB by the licensed payment service provider.