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Authorised Payment Institution (API) Estonia

Enabling you to gain access to 512 million consumers across Europe and offering payment services, including, payment accounts, payment processing, merchant acquiring and money transfer services.


The Financial Supervision Authority is the Estonian Regulator. In order to apply for an activity license, an application must be submitted to the Financial Supervision Authority as specified in the Payment Institutions and E-Money Institutions Act (MERAS).


Payments regulation is changing in Europe. With this change, it is creating new opportunities for payment service providers. The second payment service directive (PSD2) responds to the evolving demands of customers. 

The European payments market size is substantial and growing continually. For example, the European remittance market size is over €120 billion. The total amount of non cash payments in Europe increased to over 122 billion in 2016. The total number of payment cards grew to over 1.5 billion in 2016. In relation to card transactions, in 2017, the 45 largest merchant acquirers in Europe processed 67.5 billion payments, from 10 million merchants, valued at €2.4 trillion. 

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Please provide your details below or alternatively, call us on 0207 866 2512 or email us at

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Licencing (Authorisation)
End-to-end authorised payment institution (API) licence application preparation.  Full management of communication with the regulator until your licence has been issued.
Obtaining banking facilities
From helping you obtain safeguarding banking facilities to issuing cards and virtual IBANs, our service has your customer's needs in mind.
Full compliance support
We focus on your compliance so you can focus on your business and its growth. We offer 2 levels of compliance support packages to support you in areas including risk, compliance and auditing.
Full consulting support
Our partnership with you extends to consulting services, including legal, accounting, recruitment, business development, product development and market strategy.


Step 1

Assessment & Suitability


We listen to you to understand your business, your customers and your requirements. 

Step 2

Planning & Execution


We advise you on business requirements and agree a course of action. We advise you on your regulatory requirements, fees and timescales involved. We also offer a fast-track service.

Step 3

Application preparation


We work closely with you in understanding your organisation and its processes. We project manage your application. Finally, we help you to submit your application.

Step 4

Application Approval & Licence is issued


We hear back from the regulator who may have further questions. We prepare the response and manage communication on your behalf. Your application is approved and licence issued.


Payment banking accounts

Money remittance

Payment processing

Merchant acquiring

Payment & Account Initiation


Our service extends beyond licencing and compliance. We spend significant time understanding our clients, their culture, ambitions and roadmap. We understand where they are and where they want to be and achieve. We help them achieve this transition. In addition to our above services, we help our clients with related and third-party services, to enable them to offer payment services smoothly.
With our authorised payment institution (API) licence authorisation service, we will discuss your requirements and the payment services you wish to offer. We will assess your business model, directors and senior management team, their experience and suitability as well as your governance (risk & compliance), operations, structure, business model and viability, to ensure that you will meet the regulator's requirements. Following our assessment, we will provide you with a realistic and honest assessment on application strength, as well as making our recommendations.
The authorised payment institution (API) requires careful planning and in-depth preparation. A large amount of documents are required to be drafted for the authorised payment institution (API) application, including a business plan, programme of operations, risk and compliance policy and framework, security procedures and policies, anti-money laundering etc. We are able to help you prepare all the required policies, procedures, and documents to ensure you achieve authorisation and avoid any delays in doing so.


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1. Services enabling cash to be placed on a payment account as well as all the operations required for operating a payment account.
2. Services enabling cash withdrawals from a payment account as well as all the operations required for operating a payment account.
3. Execution of payment transactions, including transfers of funds on a payment account with the user’s payment service provider or with another payment service provider. This includes, execution of direct debits, payment transactions through a payment card and credit transfers.
4. Execution of payment transactions where the funds are covered by a credit line for a payment service user. This includes, execution of direct debits, execution of payment transactions through a payment card or a similar, and execution of credit transfers, including standing orders.
5. Issuing of payment instruments and/or acquiring of payment transactions. An example of this being merchant acquiring.
6. Money remittance. For example, cross-border money transfer.
7. Payment initiation services. Under this model, a initiator I.e. as a payment service provider under the payment institution licence, you can, subject to the user's consent, take or iniatie a payment directly from the user's bank account and transfer the amount directly to the merchant's bank account, removing the Visa and Mastercard networks in the payment process.
8. Account information services. Under this permission, subject to the user's consent your consent is able to provide access to your accounts and view information such as balances, transactions, standing orders and Direct Debits for a given period of time.



Information to be included in or with an application for authorisation.

  1. a copy of the articles of association, the decision of the general meeting on the amendment of the articles of association for the operating company and the amended text of the articles of association;

  2. in the case of the establishment of a company, a notarised copy of the treaty or decision;

  3. a document certifying the payment of the share capital or the existence of initial capital;

  4. an action plan describing in particular proposed payment services or e-money services;

  5. MERAS-compliant business plan;

  6. the applicant's opening balance sheet and statement of income and expenditure or, in the case of an operating company, the balance sheet and profit and loss account as at the end of the month preceding the application for authorization and, where applicable, the last three financial statements;

  7. A description of the application of the general requirements for the custody and protection of client assets set out in MERAS;

  8. The internal rules and accounting rules set out in MERAS or their projects;

  9. information on the IT and other resources and systems required to provide the proposed services;

  10. a description of the internal control system and of measures to ensure compliance with the obligations in relation to the prevention of money laundering and terrorist financing and the transfer of information on the payer with regard to the transfer of funds;

  11. a description of the applicant's organizational structure, including, where applicable, a description of the arrangements for the use of its agents or branches or the transfer of the service, as well as its participation in both local and international payment systems;

  12. a list of the shareholders or members of the applicant indicating the name of each of them, the registry code or personal identification code, if any, or, in the absence thereof, the date of birth, and the number of shares or voting rights held or held by each shareholder or member;

  13. The data mentioned in the MERAS regarding the persons having a qualifying holding in the applicant;

  14. details of the applicants' managers, including their first and last name, personal identification code or, in the absence thereof, date of birth, place of residence, description of education, full list of jobs and positions, and description of their responsibilities for board members, as well as the reliability of managers and MERAS compliance documents to be submitted by the applicant;

  15. details of companies in which the applicant or its manager has a holding of more than 20%, which must include the size of the share capital, the list of activities and the size of the participation of the applicant and each manager;

  16. details of the applicant's auditor and internal auditor, including their name, residence or seat, personal identification code or, in the absence thereof, date of birth or registry code;

  17. in the case of an operating company, documents certifying the amount of own funds, together with the report of the sworn auditor;

  18. description of security policy.

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