Payment Institution (PI / PSP)

A payment institution licence authorises you to execute payment transactions, acquire for merchants, initiate payments and remit money. It is the right authorisation when you move money for other people but have no need to issue e-money or hold balances as stored value.

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How the setup works

Map your money flows to the specific payment services you need — the list you apply for drives both your capital requirement and your scope.
Incorporate the applicant, appoint management and compliance, and arrange the local presence the regulator expects to see.
Prepare the business plan, projections and a clear description of how funds move through the model and who holds them at each step.
Build the AML/CFT, safeguarding, risk and security documentation, including strong customer authentication and fraud controls.
File, answer the regulator through its review, and satisfy pre-authorisation conditions.

Timeline

Typically 6–12 months from a complete file — faster than an EMI where the scope is narrow and no e-money is issued.

General requirements

Initial capital for the services applied for
Fit-and-proper directors & shareholders
Local presence and qualified management
Safeguarding of relevant funds
AML/CFT framework with an appointed MLRO
SCA, fraud monitoring and incident reporting

Documents needed

Regulatory business plan
Financial projections and capital evidence
Money-flow and settlement description
Ownership and group structure chart
Key-person questionnaires and clearances
AML/CFT policies and procedures
Safeguarding arrangement documentation
Merchant onboarding and scheme arrangements
Security, SCA and business-continuity policies

Requirements, fees and timelines are indicative and change over time. We confirm the current rules for your specific project before you commit.

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