# Payment institution licence (Malta)

Source page: https://protegra.io/licensing/licences/payment-institution/malta/

The Payment institution licence is issued by Malta Financial Services Authority (MFSA) under Directive (EU) 2015/2366 on payment services in the internal market (PSD2). It can be passported to the other EU/EEA states by notification. The official register lists 50 current holders. The legal decision period is 3 months from receipt of a complete application. The application fee is EUR 10,000. Ownership changes need the regulator's approval before completion.

## At a glance

| Official name | Payment institution licence [1] |
| --- | --- |
| Issued by | [Malta Financial Services Authority](https://protegra.io/licensing/regulators/mfsa-malta/) |
| Jurisdiction | [Malta](https://protegra.io/licensing/jurisdictions/malta/) |
| Licence family | [Payment institution (PI)](https://protegra.io/licensing/licences/payment-institution/) |
| Legal basis | Directive (EU) 2015/2366 on payment services in the internal market (PSD2) [2] |
| Passporting | EU/EEA passport available |
| Application fee | EUR 10,000 [3] |
| Annual fee | EUR 15,000 + 0.02% of total assets (max EUR 250,000) for payment services only; EUR 25,000 base where e-money-related activity is added [3] |
| Statutory decision time | 3 months from receipt of a complete application [1] |
| Public register | [official register](https://euclid.eba.europa.eu/register/downloads/PSDMD/20260924/download-PSDMD-202609240000.zip) [4] |
| Current holders | 50 [4] |

## What it lets you do

- [Execution of payment transactions](https://protegra.io/licensing/activities/payment-execution/)
- [Money remittance](https://protegra.io/licensing/activities/money-remittance/)
- [Issuing payment instruments and acquiring payment transactions](https://protegra.io/licensing/activities/card-issuing-acquiring/)
- [Payment initiation services](https://protegra.io/licensing/activities/payment-initiation/)
- [Account information services](https://protegra.io/licensing/activities/account-information/)

- **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

_Issued in Malta (gold); can be passported to the other EU/EEA states (blue) by notification._

## Cost

_Regulatory costs from the official sources above. Professional fees, staff, office and audit come on top and depend on the business model._

## How long it takes

Statutory: 3 months from receipt of a complete application [1]. 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 approval required.** Acquiring or increasing a qualifying holding needs the MFSA's prior approval. For payment and e-money institutions the Financial Institutions Act sets the thresholds at 20%, 30% and 50%; for banks the Banking Act adds a 60-working-day assessment period that can be extended. [1]

## Laws behind it

- [Directive (EU) 2015/2366 on payment services in the internal market](https://protegra.io/licensing/laws/eu-psd2-2015-2366/): Directive (EU) 2015/2366

## Sources

1. [legislation.mt: 683418610db9942428cf9d49](https://legislation.mt/getpdf/683418610db9942428cf9d49): retrieved 2026-09-24
2. [eur-lex.europa.eu: HTML (32015L2366)](https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L2366): retrieved 2026-09-24
3. [legislation.mt: 678e17bf0dba9f09507842db](https://legislation.mt/getpdf/678e17bf0dba9f09507842db): retrieved 2026-09-24
4. [euclid.eba.europa.eu: download PSDMD 202609240000.zip](https://euclid.eba.europa.eu/register/downloads/PSDMD/20260924/download-PSDMD-202609240000.zip): retrieved 2026-09-24

Last verified 2026-09-24 · Author: Danil Marmysh · Reviewed by Anastasia Sidorenkova · © Protegra. Data: CC BY 4.0, cite "Protegra Licensing Atlas". Not legal advice.