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Payment institution are required to comply with strict supervisory requirements. They requirements include requirements relating to own funds or risk management, the suitability of directors and reporting. These requirements are based on those that apply to credit institutions. The relevant information for the granting of licences for payment institutions can be found here. Licences for Austrian payment institutions are granted by the Financial Market Authority. The application for a licence must contain certain details, which are listed in Article 6 of the Payment Services Act (ZaDiG – Zahlungsdienstegesetz).


The Financial Market Authority shall grant a licence, if for example

  • the entity is intended to be operated in the legal form or a joint stock company or a cooperative society;
  • the place of incorporation and the head office are located in Austria;
  • a sound and prudent management of a payment institution is guaranteed, the payment institution has a robust governance structure in place for its payment service business;
  • the personal finances of the directors are in order and there are no facts giving rise to doubts as to the directors’ personal good repute which is necessary for operating the business in accordance with Article 1 para. 2 ZaDiG and Article 5 para. 2 ZaDiG;
  • the articles of association do not contain any provisions which would place the safety of the funds entrusted to the payment institution and the proper execution of the transactions pursuant to Article 1 para. 2 ZaDiG in doubt;
  • etc.

A complete listing of all licencing requirements can be found in Article 7 ZaDiG.

The Financial Market Authority shall be entitled to revoke the licence subject to certain requirements being fulfilled (Article 8 ZaDiG) or to determine the licence to have lapsed (Article 9 ZaDiG).

The Financial Market Authority provides the opportunity to search the scope of licences held by authorised payment institutions in Austria.

To the licence query

Within the Financial Market Authority, the supervision of payment institutions, i.e. licencing and ongoing supervision is located within the Banking Supervision department (in the division for Supervision of Joint Stock Banks, Payment Institutions and Deposit Guarantee Schemes).