What does PSD Agent mean?

22 Mar 2022 By PAYCEC

It's a common misconception that if you want to provide payment services to clients, you need your own license. In fact, you can use another company's license to become a PSD agent or an EMD agent, which means you can work for a permitted E-money or Payment institution.

When you work as an EMD or EMI (Electronic Money Institution) agent, you are essentially providing payment and e-money services on behalf of a licensed electronic money institution (as defined in the E-money Directive 2, EMD2). You effectively have a sublicence based on the licensed company's authorization.

A PSD or PI (Payment Institution) agent is nearly similar, with the exception that the Payment Services Directive 2 defines an authorized payment institution (PSD2). Again, you have a sub license to deliver these services on the back of another party who is completely authorized to do so.

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