To determine whether an enterprise qualifies as a payment service provider, the following questions must be answered:
- Do the proposed activities qualify as a payment service? Please note that there are specific services that the Wft explicitly does not qualify as payment services. See "Payment services not requiring authorisation"
- Will it be the enterprise's "business"* to provide payment services?
Three categories of payment service providers
Er zijn drie categorieën betaaldienstverleners:
- Payment institutions: enterprises holding authorisation specifically for providing payment services, issued by DNB.
- Exempt payment service providers: enterprises exempt from the authorisation requirement under the Exemption Regulation under the Wft (Vrijstellingsregeling Wft). An exempt payment service provider may start its operations only after DNB has entered it as such in the public register.
- Banks and electronic money institutions: these are already authorised to act as a payment service provider under their authorisations to the extent, of course, as permitted under those authorisations. They are excepted from the authorisation requirement for payment service providers.
Exempt payment service providers and excepted banks and electronic money institutions do not need DNB authorisation. Accordingly, payment service providers holding DNB authorisation are referred to as payment institutions. Their authorisation requirement is set out in Section 2:3a of the Financial Supervision Act (Wet op het financieel toezicht – Wft).
* ...whose business it is...
Payment service providers need authorisation if it is their business to provide payment services, according to the Wft. This means the service must be separately identifiable and not merely auxiliary to a principal activity not qualifying as a payment service.