Payment institution (PI)
A payment institution (PI) licence covers payment services: money remittance, executing transfers, card acquiring, payment initiation and account information. It does not cover issuing electronic money. In the EU it runs on PSD2. Capital requirements run from EUR 20,000 to EUR 125,000 depending on the services offered, and the licence passports across the EEA.
Where the PI licence is available
Comparison by country
| Country | Regulator | Min. capital | Statutory time | Passport |
|---|---|---|---|---|
| Czech Republic | CNB | n/a | 3 mo | Domestic |
| Czech Republic | CNB | n/a | 1 mo | Domestic |
| Czech Republic | CNB | n/a | 3 mo | EU/EEA |
| Estonia | FI | n/a | n/a | EU/EEA |
| Estonia | FI | n/a | 3 mo | EU/EEA |
| Georgia | NBG | n/a | n/a | Domestic |
| Germany | BaFin | n/a | n/a | Domestic |
| Germany | BaFin | n/a | 3 mo | EU/EEA |
| Ireland | CBI | n/a | n/a | EU/EEA |
| Latvia | LB | n/a | 1.7 mo | EU/EEA |
| Latvia | LB | n/a | 3.7 mo | EU/EEA |
| Lithuania | LB | n/a | n/a | Domestic |
| Lithuania | LB | n/a | 3 mo | EU/EEA |
| Luxembourg | CSSF | n/a | 3 mo | EU/EEA |
| Malta | MFSA | n/a | n/a | Domestic |
| Malta | MFSA | n/a | 3 mo | EU/EEA |
| Netherlands | DNB | n/a | 3 mo | EU/EEA |
| Poland | KNF | n/a | n/a | Domestic |
| Poland | KNF | n/a | 3 mo | Domestic |
| Poland | KNF | n/a | 3 mo | Domestic |
| Singapore | MAS | n/a | n/a | Domestic |
| Singapore | MAS | n/a | n/a | Domestic |
| Slovakia | NBS | n/a | 3 mo | EU/EEA |
| Spain | BdE | n/a | 3 mo | EU/EEA |
| United Arab Emirates | CBUAE | n/a | 2.8 mo | Domestic |
| United Kingdom | FCA | n/a | n/a | Domestic |
| United Kingdom | FCA | n/a | n/a | Domestic |
| United Kingdom | FCA | n/a | 3 mo | Domestic |
Values come from each country's page, where every figure has its source.
Activities this family typically covers
- Cash placement on a payment account
- Cash withdrawal from a payment account
- Execution of payment transactions
- Execution of payment transactions covered by a credit line
- Issuing payment instruments and acquiring payment transactions
- Money remittance
- Payment initiation services
- Account information services
- Currency exchange
All licences in this family
- PI · Czech Republic
Account Information Service Provider authorisation
CNB
- PI · Czech Republic
Small-scale Payment Service Provider authorisation
CNB
- PI · Czech Republic
Payment Institution licence
CNB
- PI · Estonia
Payment institution operating with an exception
FI
- PI · Estonia
Operating licence as a payment institution
FI
- PI · Georgia
Payment institution licence
Registration as a Payment Service Provider (PSP) with the National Bank of GeorgiaNBG
- PI · Germany
Account information service provider registration
BaFin
- PI · Germany
Payment institution licence
BaFin
- PI · Ireland
Payment Institution Authorisation
CBI
- PI · Latvia
Registered payment institution
LB
- PI · Latvia
Authorised payment institution licence
LB
- PI · Lithuania
Payment institution licence for restricted activity
LB
- PI · Lithuania
Payment institution licence
LB
- PI · Luxembourg
Payment institution authorisation
CSSF
- PI · Malta
Account information service provider registration
MFSA
- PI · Malta
Payment institution licence
MFSA
- PI · Netherlands
Payment institution licence
Payment institution licence (Vergunning betaalinstelling)DNB
- PI · Poland
Account Information Service Provider registration
KNF
- PI · Poland
National Payment Institution licence
KNF
- PI · Poland
Small Payment Institution registration
KNF
- PI · Singapore
Major Payment Institution Licence
MAS
- PI · Singapore
Standard Payment Institution Licence
MAS
- PI · Slovakia
Payment institution licence
NBS
- PI · Spain
Payment institution authorization
BdE
- PI · United Arab Emirates
Retail Payment Services Licence (Categories I to IV)
CBUAE
- PI · United Kingdom
Registered Account Information Service Provider (RAISP)
FCA
- PI · United Kingdom
Small Payment Institution (SPI) Registration
FCA
- PI · United Kingdom
Authorised Payment Institution (API)
FCA
Sources
- PSD2 Directive (EU) 2015/2366, Art. 7 (initial capital) · retrieved 2026-09-24
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