What does "Payment initiation service provider" mean under the Instant Payments Regulation?
A payment initiation service provider as defined in Article 4, point (18), of Directive (EU) 2015/2366 of the European Parliament and of the Council:
Payment initiation service provider means a payment service provider pursuing business activities as referred to in point (7) of Annex I
Last updated: 22 August 2026.
The Instant Payments Regulation is Regulation (EU) 2024/886, which amends the SEPA Regulation. Euro-area banks have had to send instant euro credit transfers and offer Verification of Payee since 9 October 2025. Payment institutions and e-money institutions have until 9 April 2027. Daily sanctions screening replaced in-flight screening on 9 January 2025.
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