Mandatory ASPSP
Service ProvidersMandatory Account Servicing Payment Service Provider
Definition
Mandatory Account Servicing Payment Service Providers are entities that are required by the CMA Order to enrol with Open Banking. These are typically the CMA9 banks that were mandated to implement Open Banking standards.
Related Terms
ASPSP
Account Servicing Payment Service ProviderAccount Servicing Payment Service Providers provide and maintain payment accounts for payers as defi...
CMA9
CMA9 BanksThe nine largest banks and building societies in Great Britain and Northern Ireland, based on the vo...
Voluntary ASPSP
Voluntary Account Servicing Payment Service ProviderVoluntary Account Servicing Payment Service Providers are those entities who, although not obliged t...
Frequently Asked Questions
What is Mandatory Account Servicing Payment Service Provider?
Mandatory Account Servicing Payment Service Providers are entities that are required by the CMA Order to enrol with Open Banking. These are typically the CMA9 banks that were mandated to implement Open Banking standards.
What does Mandatory ASPSP stand for in Open Banking?
Mandatory ASPSP stands for Mandatory Account Servicing Payment Service Provider. It is a fundamental concept in Open Banking and PSD2 regulations. Mandatory Account Servicing Payment Service Providers are entities that are required by the CMA Order to enrol with Open Banking. These are typically the CMA9 banks that were mandated to implement Open Banking standards.
More Service Providers Terms
AISP
Account Information Service ProviderAn Account Information Service Provider provides account information services as an online service t...
ASPSP
Account Servicing Payment Service ProviderAccount Servicing Payment Service Providers provide and maintain payment accounts for payers as defi...
API Provider
An API provider is a service provider implementing an Open Data API. An API provider provides Open D...
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CBPII
Card Based Payment Instrument IssuerA Card Based Payment Instrument Issuer is a payment services provider that issues card-based payment...
PISP
Payment Initiation Services ProviderA Payment Initiation Services Provider provides an online service to initiate a payment order at the...
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