ASPSP
Service ProvidersAccount Servicing Payment Service Provider
Definition
Account Servicing Payment Service Providers provide and maintain payment accounts for payers as defined by the Payment Services Regulations. In the context of the Open Banking Ecosystem, ASPSPs are entities that publish Read/Write APIs to permit, with customer consent, payments initiated by third party providers and/or make their customers' account transaction data available to third party providers via their API endpoints. Banks and building societies are typical examples of ASPSPs.
Related Terms
AISP
Account Information Service ProviderAn Account Information Service Provider provides account information services as an online service t...
PISP
Payment Initiation Services ProviderA Payment Initiation Services Provider provides an online service to initiate a payment order at the...
TPP
Third Party ProviderThird Party Providers are organisations or natural persons that use APIs developed to Standards to a...
API
Application Programming InterfaceAn Application Programming Interface is a set of routines, protocols, and tools for building softwar...
Frequently Asked Questions
What is Account Servicing Payment Service Provider?
Account Servicing Payment Service Providers provide and maintain payment accounts for payers as defined by the Payment Services Regulations. In the context of the Open Banking Ecosystem, ASPSPs are entities that publish Read/Write APIs to permit, with customer consent, payments initiated by third party providers and/or make their customers' account transaction data available to third party providers via their API endpoints. Banks and building societies are typical examples of ASPSPs.
What does ASPSP stand for in Open Banking?
ASPSP stands for Account Servicing Payment Service Provider. It is a fundamental concept in Open Banking and PSD2 regulations. Account Servicing Payment Service Providers provide and maintain payment accounts for payers as defined by the Payment Services Regulations. In the context of the Open Banking Ecosystem, ASPSPs are entities that publish Read/Write APIs to permit, with customer consent, payments initiated by third party providers and/or make their customers' account transaction data available to third party providers via their API endpoints. Banks and building societies are typical examples of ASPSPs.
How do I work with a ASPSP?
To work with Account Servicing Payment Service Provider services, you typically need to integrate with their APIs or use an API aggregator that provides ASPSP capabilities. Many aggregators in our directory offer ASPSP services with unified APIs across multiple banks.
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Mandatory ASPSP
Mandatory Account Servicing Payment Service ProviderMandatory Account Servicing Payment Service Providers are entities that are required by the CMA Orde...
PISP
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