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Authorised Payment Institution

An authorised payment institution or API, is a designation by license across Europe which enables a company to offer payment services within a specified region. These payment services can include payment accounts, processing payments, merchant services, and payment transfers. An important distinction between authorised payment institutions and legacy banks is that banks are able to accept deposits, while APIs are strictly for payment services.

API licenses are applied for and then granted by a regulating authority. For example, to apply for an API license in the UK, the company must apply to the Financial Conduct Authority (FCA). In the European Union, companies apply to the European Banking Authority (EBA). The involvement of these authorities increases transparency amongst businesses and ensures a higher level of protection for consumers.

2020 Copyright © European Merchant Bank UAB. All rights reserved.
European Merchant Bank UAB is licensed by European Central Bank (License No. 3)
Swift BIC: EUEBLT22
Bloomberg Dealing Code: EUEB
2020 Copyright © European Merchant Bank UAB. All rights reserved.
European Merchant Bank UAB is licensed by European Central Bank (License No. 3)
Swift BIC: EUEBLT22
Bloomberg Dealing Code: EUEB