Malta API LicenceIntroduction

We can help you set up your authorised payment institution (API) in Malta.

Maltese remittance firms are regulated by the Malta Financial Services Authority (MSFA) under the Payment Services Directive 2009.

Malta operates an API-only regulatory system for payment institutions – the small payment institution is not issued.

Capital requirements for authorised payment institutions:

Payment services (see Schedule 1 to the PSRs)Initial capital required
Money remittanceEUR 20,000
Execution of payment transactions where payer’s consent for execution is given via a telecommunication, digital or IT device and payment is made to the telecommunication, IT system or network operator acting only as an intermediary between the payment service user and the supplier of the goods or services.EUR 50,000
Payment institutions providing other services, that is those covered in Schedule 1 Part 1(1)(a) to (1)(e) of the PSRs.EUR 125,000

Authorised Payment Institution – Application Requirements

The API licence application process is an in-depth process.  A large amount of documentation must be drafted for this licence, including a full business plan, a detailed programme of operations, risk management plan, business continuity plan, etc.  This is a more serious undertaking and involves considerable preparation by both our firm and the applicant.

Whilst daunting for some businesses, it can also present an excellent opportunity to formalise the policies and procedures in your business and lay a solid foundation for its continued growth.  It can lead to significant gains in terms of process efficiency, minimisation of risk, and reduction in manual processing and therefore overheads.

The Authorised Payment Institution (API) Application Process

API Compliance can handle the application process from start to finish.  We offer a flat-fee structure for the application which includes unlimited follow-up with the Malta Financial Services Authority until the licence is granted.

For more information please contact us.

How long will it take to get set up?

We recognise that each company is unique and that the time required in preparing the application will vary depending on their specifics, but we aim to have all applications completed within 4-6 weeks.

You should allow a minimum of 4-5 months to get the company up and running.

What will it cost?

Contact us today for a custom quote for your project here and to arrange a free 15 minute consultation.