Payment institution licence (Germany)
The Payment institution licence (Erlaubnis zur Erbringung von Zahlungsdiensten nach § 10 ZAG) is issued by Federal Financial Supervisory Authority (BaFin) under Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz - ZAG). It can be passported to the other EU/EEA states by notification. The official register lists 102 current holders. The legal decision period is 3 months from receipt of complete application, maximum 12 months overall. The application fee is EUR 13,523 or time spent.
At a glance
| Official name | Payment institution licence1 |
|---|---|
| Local name | Erlaubnis zur Erbringung von Zahlungsdiensten nach § 10 ZAG |
| Also known as | PI · Zahlungsinstitut · German payment institution licence · BaFin payment institution licence · German PI licence · ZAG licence |
| Issued by | Federal Financial Supervisory Authority |
| Jurisdiction | Germany |
| Licence family | Payment institution (PI) |
| Legal basis | Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz - ZAG)2 Directive (EU) 2015/2366 on payment services in the internal market (PSD2)3 |
| Passporting | EU/EEA passport available |
| Application fee | EUR 13,523 or time spent4 |
| Annual fee | Annual cost allocation levy (Umlage) based on transaction volume5 |
| Statutory decision time | 3 months from receipt of complete application, maximum 12 months overall1 |
| Public register | official register6 |
| Current holders | 1026 |
What it lets you do
| Execution of payment transactions | Executing direct debits, card payments and credit transfers, including standing orders, from a payment account. |
|---|---|
| Money remittance | Receiving funds from a payer solely to transfer them to a payee or another provider, without opening payment accounts. |
| Issuing payment instruments and acquiring payment transactions | Issuing cards or other payment instruments to payers, and acquiring card and other payment transactions for merchants. |
| Payment initiation services | Initiating a payment order at the user's request from an account held with another provider, as in open banking. |
| Account information services | Providing consolidated online information on one or more payment accounts the user holds with other providers. |
Where it is valid
Cost
How long it takes
Statutory: 3 months from receipt of complete application, maximum 12 months overall1. Observed: not published. The statutory clock usually starts only when the regulator treats the application as complete, and pauses while it waits for answers to its questions.
Buying a company that already holds it
Prior notification with an objection period. Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or gaining control of a credit institution, payment institution, or investment firm, requires prior written notification to BaFin and the Deutsche Bundesbank. BaFin conducts an assessment of acquirer reliability, professional competence, financial soundness, and money laundering risks within 60 working days from receipt of a complete filing, interruptible once by up to 20 working days (or 30 working days if non-EEA) to request additional information, under Section 2c KWG, applied mutatis mutandis to payment and e-money institutions via Section 14 ZAG and to investment firms via Section 24 WpIG.7
PI in other countries
| Country | Licence | Regulator | Min. capital | Application fee | Statutory time |
|---|---|---|---|---|---|
| Czech Republic | Account Information Service Provider authorisation | CNB | n/a | CZK 25,000 | ~3 mo |
| Czech Republic | Small-scale Payment Service Provider authorisation | CNB | n/a | CZK 10,000 | ~1 mo |
| Czech Republic | Payment Institution licence | CNB | n/a | CZK 50,000 | ~3 mo |
| Estonia | Payment institution operating with an exception | FI | n/a | n/a | n/a |
| Estonia | Operating licence as a payment institution | FI | n/a | EUR 3,000 | ~3 mo |
| Georgia | Payment institution licenceRegistration as a Payment Service Provider (PSP) with the National Bank of Georgia | NBG | n/a | GEL 5,000 | n/a |
| Germany | Account information service provider registration | BaFin | n/a | n/a | n/a |
| Germany | Payment institution licence | BaFin | n/a | EUR 13,523 | ~3 mo |
| Ireland | Payment Institution Authorisation | CBI | n/a | n/a | n/a |
| Latvia | Registered payment institution | LB | n/a | EUR 2,500 | ~1.7 mo |
| Latvia | Authorised payment institution licence | LB | n/a | EUR 5,000 | ~3.7 mo |
| Lithuania | Payment institution licence for restricted activity | LB | n/a | n/a | n/a |
| Lithuania | Payment institution licence | LB | n/a | EUR 898 | ~3 mo |
| Luxembourg | Payment institution authorisation | CSSF | n/a | EUR 30,000 | ~3 mo |
| Malta | Account information service provider registration | MFSA | n/a | EUR 1,000 | n/a |
| Malta | Payment institution licence | MFSA | n/a | EUR 10,000 | ~3 mo |
| Netherlands | Payment institution licencePayment institution licence (Vergunning betaalinstelling) | DNB | n/a | EUR 6,800 | ~3 mo |
| Poland | Account Information Service Provider registration | KNF | n/a | n/a | n/a |
| Poland | National Payment Institution licence | KNF | n/a | EUR 1,250 | ~3 mo |
| Poland | Small Payment Institution registration | KNF | n/a | PLN 616 | ~3 mo |
| Singapore | Major Payment Institution Licence | MAS | n/a | SGD 1,500 | n/a |
| Singapore | Standard Payment Institution Licence | MAS | n/a | SGD 1,000 | n/a |
| Slovakia | Payment institution licence | NBS | n/a | n/a | ~3 mo |
| Spain | Payment institution authorization | BdE | n/a | n/a | ~3 mo |
| United Arab Emirates | Retail Payment Services Licence (Categories I to IV) | CBUAE | n/a | n/a | ~2.8 mo |
| United Kingdom | Registered Account Information Service Provider (RAISP) | FCA | n/a | GBP 1,130 | n/a |
| United Kingdom | Small Payment Institution (SPI) Registration | FCA | n/a | GBP 1,130 | n/a |
| United Kingdom | Authorised Payment Institution (API) | FCA | n/a | GBP 5,640 | ~3 mo |
Values come from each licence's page, where every figure has its source.
Laws behind it
- Directive (EU) 2015/2366 on payment services in the internal market: Directive (EU) 2015/2366
Sources
- gesetze-im-internet.de: 10 · retrieved 2026-09-24
- gesetze-im-internet.de: zag 2018 · retrieved 2026-09-24
- EUR-Lex: CELEX 32015L2366 · retrieved 2026-09-24
- gesetze-im-internet.de: anlage · retrieved 2026-09-24
- bafin.de: finanzierung node · retrieved 2026-09-24
- portal.mvp.bafin.de · retrieved 2026-09-24
- gesetze-im-internet.de: 2c · retrieved 2026-09-24
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