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When the EU’s revised Payment Services Directive (PSD2) was implemented into UK law in January 2018, firms operating as account information service providers (AISPs) and payment initiation service providers (PISPs) were brought under FCA regulation.

The payments industry was recognised as a sector in its own right long before the concept of fintech took hold. But new technology has dramatically reshaped the payments sector landscape in recent years. AISP and PISP firms are a case in point.

AISPs provide an online service that allows their customers to access information on payment accounts they hold with one or more account servicing payment service providers (ASPSP). Typically these would be credit institutions. AISP services often take the form of an app that helps users manage their finances in one way or another.

In the case of PISPs, customers consent to the provider initiating payments on their behalf. This enables PISP customers to pay for goods and services without the need for a traditional payment card – and is particularly useful for online purchases.

AISPs and PISPs operate on broadly similar platforms. Both rely on customers providing their explicit consent for the provider to access their payment accounts.

At Thistle, we have the experience and expertise to provide effective support to AISP and PISP businesses throughout the process of achieving FCA registration.

We also provide auditing services, helping AISP and PISP firms meet their requirements under PSD2.

Other services we offer firms in the AISP and PISP sector include: assistance with handling complaints, advice on conduct of business to meet regulatory requirements, face to face training and competency sessions, and modular online training.

We’re always excited to talk to new firms in the AISP and PISP sector. So if you have any queries at all, we’d be happy to hear from you.

Contact us on 0207 436 0630 or email

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