The introduction of the Payment Services Directive II (PSD2) opens up the payment services market to bank-independent Third Party Providers (TPPs).

PSD2 introduced three types of TPPs, namely Account Information Service Providers (AISPs), Payment Initiation Service Providers (PISPs) and Card-based Payment Instrument Issuers (CBPIIs).

Account-servicing Payment Service Providers (ASPSPs), i.e. banks, e-money institutions, etc., are now obliged to enable their customers the use of PSD2-licensed TPP services by allowing them access to their accounts. This opens the banking world for much more competition and new innovative services.

Due to the EU's single licence regime, TPPs can passport their PSD2 licence to other EU/EEA member states, which allows them to provide their services all across Europe.

ETPPA

is the European trade association representing the interests of bank-independent TPPs.