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Location: Central Bank of Bahrain Volume 5—Specialised Licensees > Specific Modules (By Type of Licensee) > Type 7: Ancillary Service Providers > Part A > High Level Standards > AU Ancillary Service Providers Authorisation Module > AU-1 Authorisation Requirements > AU-1.2 Definition of Regulated Ancillary Services > Payment Initiation Service Provider (PISP) > AU-1.2.24
  • Payment Initiation Service Provider (PISP)

    • AU-1.2.23

      PISP refers to a person licensed by the CBB to initiate payment or credit transfers for the customer from an account held with a licensed bank, financing company or PSP.

      Added: December 2018

    • AU-1.2.24

      The role of a PISP is restricted to providing the technology or other means in order to initiate a payment order and the handling of communication or electronic documents between the customer and the licensees should the terms of the offer include such services. PISPs must not receive or otherwise handle customer funds in the course of providing payment initiation information servicesG .

      Added: December 2018

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