The European Banking Authority (EBA) has launched a central electronic register under the Payments Services Directive (PSD2). The register will provide information on several thousand payment and electronic money institutions and 150,000 agents within the EU.
Its objective is to increase transparency and ensure a high level of consumer protection within the European Single Market.
Commenting on the launch of the PSD2 register, the Executive Director of the EBA, Adam Farkas, said: “The EBA has worked hard to provide a freely accessible and reliable source of key information for market participants across the single market that will facilitate the roll out of PSD2, support the provision of the newly regulated payments services and improve transparency for consumers in the EU”.
This register provides consistent information, among others, on:
- The identity of authorised payment and electronic money institutions, including payment initiation service providers and account information service providers)
- The country of establishment of these providers and the services they provide; and
- Information on passporting, i.e. the services provided in host Member States.
National competent authorities provide the information contained in the central register of the EBA and are responsible for its accuracy and keeping that information up-to-date. The information on the central register of the EBA is updated regularly by national competent authorities, at least once per day, subject to changes in their national registers.
Public users can search the central register of the EBA free of charge, as well as download the whole content of the register directly from this website.
In accordance with Article 11 of PSD2, granting of authorisation to payment institutions and electronic money institutions remains under the remit of the national competent authorities.
Register of payment and electronic money institutions under PSD2
The register includes the following natural or legal persons that can provide payment services and/or electronic money services:
- ‘Payment institutions’ as legally defined in Article 4(4) of PSD2;
- ‘Exempted payment institutions’ under Article 32 of PSD2;
- ‘Account information service providers’ under Article 33 of PSD2;
- ‘Electronic money institutions’ as legally defined in Article 2(1) of EMD2;
- ‘Exempted electronic money institutions’ under Article 9 of EMD2;
- ‘Agents’ as legally defined in Article 4(38) of PSD2;
- ‘EEA branches’ as legally defined in Article 4(39) of PSD2;
- ‘Institutions entitled under national law to provide payment services’ under Article 2(5) of PSD2;
- ‘Service providers excluded from the scope of PSD2′ under points (i) and (ii) of point (k) and point (l) of Article 3 of PSD2.
To search the EBA Register on Payment and Electronic Money Institutions CLICK HERE
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