Article 5 — Applications for authorisation
PSD2 — Directive (EU) 2015/2366
| In the act | EU 2015/2366 |
| CELEX | 32015L2366 |
| Read on | 2026-08-14 |
Official text
Read from the EU Publications Office for this CELEX number. The wording stands as published; nothing here is rewritten or summarised.
1. For authorisation as a payment institution, an application shall be submitted to the competent authorities of the home Member State, together with the following:
(a) a programme of operations setting out in particular the type of payment services envisaged;
(b) a business plan including a forecast budget calculation for the first 3 financial years which demonstrates that the applicant is able to employ the appropriate and proportionate systems, resources and procedures to operate soundly;
(c) evidence that the payment institution holds initial capital as provided for in Article 7;
(d) for the payment institutions referred to in Article 10(1), a description of the measures taken for safeguarding payment service users’ funds in accordance with Article 10;
(e) a description of the applicant’s governance arrangements and internal control mechanisms, including administrative, risk management and accounting procedures, which demonstrates that those governance arrangements, control mechanisms and procedures are proportionate, appropriate, sound and adequate;
(f) a description of the procedure in place to monitor, handle and follow up a security incident and security related customer complaints, including an incidents reporting mechanism which takes account of the notification obligations of the payment institution laid down in Article 96;
(g) a description of the process in place to file, monitor, track and restrict access to sensitive payment data;
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