Zahlungsinstitute

Zahlungsinstitute, in German regulatory language, refers to a category of payment service providers that can offer a range of payment-related services without being traditional banks. Under the European PSD2 framework and its national implementations, Zahlungsinstitute are authorized to provide services such as payment initiation, account information services, money remittance, and, in some cases, the issuance of electronic money. They are typically used by fintechs and other non-bank entities to enable payment services for customers and businesses.

In Germany, Zahlungsinstitute fall under the supervision of BaFin (the Federal Financial Supervisory Authority) and, where applicable, the Deutsche Bundesbank. Authorization is required, demonstrating proper governance, risk management, and compliance with money laundering and financial security standards. Capital requirements and ongoing supervisory obligations apply and are tailored to the risk profile of the provider. A key feature is the safeguarding of customer funds and the implementation of strong customer authentication and robust information security measures.

Services offered by Zahlungsinstitute are defined by PSD2 and national law. They can include payment initiation and account information services, money remittance, and the issuance of electronic money, depending on the scope of the license. They generally do not offer traditional banking products such as accepting deposits or granting loans, which distinguishes them from credit institutions. They often operate in close cooperation with payment networks and merchants to facilitate fast, convenient electronic payments.

As a sector, Zahlungsinstitute have grown with fintech adoption, providing scalable, cross-border payment capabilities within the EU under centralized supervision. Related topics include PSD2, BaFin supervision, e-money regulation, and anti-money laundering compliance.