Third Party Provider (TPP) is a new type of company specialized in online payments. It was established under the PSD II directive. A TPP will be able to connect to banking systems and offer new payment methods, as well as other services that use bank account information. Data will be exchanged between companies only if the customer agrees. So far a TPP license was granted by the Polish Financial Supervision Authority to two banks in Poland – mBank and Santander.
“Thanks to the Financial Supervision Authority’s decision, we are embarking on a path of open banking. We have always said that we view PSD II as an opportunity and we’re glad we can start taking advantage of it”, says Joanna Erdman, the vice-president for strategic projects in mBank.
