A key aspect of the new requirements is the inclusion of account information services and payment initiation services in the list of payment services. If a company wishes to provide payment initiation services, it must obtain authorisation from BaFin. If it intends to provide account information services only, the company needs to be registered. Unlike traditional payment service providers, those offering the new services do not take possession of client funds. For this reason, special rules apply to the documentation that must be submitted as part of the authorisation and registration procedures for these services. For example, the ZAG requires new service providers to take out insurance to cover insured events. Furthermore, as a result of the new requirements, a number of technical aspects have moved into the focus of supervision.

On this page and the related sub-pages, you can find basic information on the payment services requiring authorisation, the authorisation procedure under PSD2 and the supervision of authorised payment institutions. The web pages contain a non-exhaustive summary of the main legal sources and guidance notices that apply in the area of payment services.

If you have further questions regarding specific individual cases, you can contact the responsible BaFin division using the contact form provided. For questions regarding the authorisation requirement, please contact BaFin’s IF Directorate. If you have any questions regarding the authorisation procedure and supervision, please send them to BaFin’s GIT Directorate.