CRIF registers as a PISP with the Central Bank of Ireland

Monday 25 July 2022 14:12 CET | News

CRIF, a company specialising in credit and business information systems, analytics, outsourcing, and processing services, has registered as a Payment Initiation Service Provider (PISP) with the Central Bank of Ireland.
CRIF registers as a PISP

The authorisation issued to CRIF Realtime Ireland, a group company based in Dublin and 100% controlled by CRIF, extends CRIF’s capabilities in the Open Banking area by providing payment initiation services.

After the Account Information Service Provider (AISP), CRIF is one of the first credit reporting agencies to achieve a PISP licence within the European Union, opening the way to new services that strengthen its commitment to digital financial inclusion.

What is a PISP?

A PISP is a payment institution which, under the revised Payment Services Directive (PSD2), initiates a payment order at the request of the payment service user with respect to a payment account held with another payment service provider.

More specifically, thanks to this licence CRIF will be able to support a variety of clients – not only financial institutions – through a combined offering of proprietary data, Open Banking data, and Open Banking payments, thus enabling a set of new use cases spanning across different industries.

Adding payment initiation services allows the completion of digital processes, from identification to the final check-out, which represents a sensitive step because of its high dropout rates, both in business-to-consumer (B2C) and business-to-business (B2B) payments.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Open Banking, PISP, central bank, payment initiation, AISP
Categories: Banking & Fintech
Companies: Central Bank of Ireland, CRIF
Countries: Ireland
This article is part of category

Banking & Fintech

Central Bank of Ireland



Discover all the Company news on Central Bank of Ireland and other articles related to Central Bank of Ireland in The Paypers News, Reports, and insights on the payments and fintech industry: