EU Clarifies Account Aggregator Licensing Rules After UK Interpretation Issues

European authorities have said account information service providers (AISPs) do not need to provide services directly to the end user to qualify for authorisation, underlining the divergence between the EU’s text and the UK’s interpretation.

The European Commission issued the statement in response to a query from the Central Bank of Ireland. It was published on Friday via the European Banking Authority’s online Q&A tool, which handles queries related to the revised Payment Services Directive (PSD2).

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