maksupalveluina

Maksupalveluina is a Finnish term used in financial and regulatory contexts to describe activities carried out as payment services. In Finnish regulatory language, the phrase appears in licenses, contracts, and descriptions to indicate that an organization provides or operates in the capacity of a payment service provider.

The concept covers a broad set of functions that fall under the EU Payment Services Directive 2 (PSD2), including payment initiation services (PIS), account information services (AIS), card payments, merchant acquiring, and money remittance. Entities may offer these services individually or as part of a broader platform such as digital wallets or fintech applications.

Regulation and oversight: In Finland, Finanssivalvonta (the Financial Supervisory Authority) regulates payment service providers, and undertakings may need a payment services license and must meet requirements related to capital, security, and conduct. In the broader EU, PSD2 provides a harmonized framework across member states, while national authorities implement additional licensing and supervision rules.

Security and compliance: Providers offering maksupalveluina must implement strong customer authentication (SCA), secure communications, and anti-money laundering (AML) measures, as well as data protection under the General Data Protection Regulation (GDPR). Operational resilience, incident reporting, and risk management are typically required components.

Impact and considerations: Maksupalveluina activities foster innovation, faster and cross-border payments, and greater competition among banks and fintechs. They also bring risks such as cyber risk and fraud, reliance on third-party services, and the need for robust oversight and governance to protect consumers and the financial system.

See also: Payment service provider, PSD2, AIS, PIS, FinTech, Finanssivalvonta.