Obtaining a PISP/AISP license

If your company does not have direct access to bank accounts, process payment transfers, or issue electronic money—but instead supports the technical side of these services (such as developing online banking platforms, expense analytics tools, payment order automation, and similar solutions)—you may need a PISP or AISP license.

What is an AISP?

Account Information Service Providers (AISP) offer online services that aggregate and display consolidated account information from multiple banks and financial institutions. These services are used by individuals and businesses to view and manage their accounts in one place.
Since AISPs have access to users’ payment accounts, they are required to meet strict data protection and security standards.

With an AISP license, a company may offer:

Account information aggregation
Budgeting and financial planning tools
Credit scoring and financial health analysis
Accounting and corporate finance support
Transaction monitoring and fraud detection

What is a PISP?

Payment Initiation Service Providers (PISP) are online services that can initiate payments directly from a user’s bank account—upon the user's consent and authentication—without using credit or debit cards. This provides a secure, fast, and cost-effective alternative to traditional online payments.

A PISP license enables a company to:

Facilitate purchases and payments for goods and services on websites and mobile apps
Handle bill payments, including utilities, subscriptions, and rent
Conduct domestic and international money transfers on behalf of clients
Enable peer-to-peer (P2P) payments between individuals
Offer subscription-based services for automated recurring payments

Where Can You Obtain a License?

PISP and AISP licenses are available in most European Union and European Economic Area countries, as well as in the UK. Companies must apply through the relevant national regulatory authority.

For example:

In the UK, the regulator is the Financial Conduct Authority (FCA)
In France, it’s the Prudential Supervision and Resolution Authority (ACPR)
In Dubai, licenses can be obtained through the Dubai Financial Services Authority (DFSA), under the Dubai International Financial Centre (DIFC). The process includes a registration fee starting at $5,000, plus an annual license fee of $5,000.

Licensing Process

In many countries, companies that only want to provide account information services can apply for an AISP license.
The PISP license application process typically includes the following steps (note: procedures may vary depending on the country):

Preparing and, if needed, translating documentation
Completing the official online application via the regulatory authority’s platform
Paying the application/registration fee
Submitting documents and forms electronically
Undergoing a fit and proper test
Responding to any requests for additional information or clarifications from the regulator

Key Requirements for Licensing

To obtain a PISP or AISP license, companies typically must:

Meet minimum capital requirements and comply with capital adequacy standards
Pay the licensing and application fees
Have a secure and reliable IT infrastructure, including encryption, secure access, and data recovery systems
Implement clear AML/CFT policies (Anti-Money Laundering / Combating the Financing of Terrorism)
Establish strong risk management frameworks to monitor and mitigate operational, financial, and compliance risks
Maintain a data protection policy that complies with regulations such as the GDPR
Ensure that key personnel have the necessary financial qualifications and experience, especially in risk management
Develop a business plan describing the services offered, target market, financial projections, and operational strategy
Provide financial documentation, including balance sheets, profit and loss statements, and cash flow statements
Submit policies and procedures demonstrating AML/CFT compliance

If you’re considering applying for one of these licenses, the Law&Trust team can provide comprehensive support—including legal advice, company formation, and end-to-end assistance with the licensing process.