What are ‘Third Party Providers’ (TPPs)?
There are three main types of TPPs:
- Account Information Service Providers (AISP)
These are organisations that provide account services to customers. They let you see your payment accounts online or via a mobile app. This includes your credit cards and bank accounts, but they can only do this with your consent.
- Payment Initiation Service Providers (PISP)
These are organisations that allow customers to initiate payments directly from their bank account to other bank accounts rather than using a debit or credit card through a third-party, such as Visa or MasterCard.
- Card Based Payment Instrument Issuers (CBPII) & Confirmation of Funds
These organisations issue card-based payment instruments that can be used to initiate a payment transaction from a payment account held with another payment service provider (such as Barclaycard).