Nordic API Gateway lands PISP license

Source: Nordic API Gateway

Today the Danish fintech company and open banking infrastructure platform Nordic API Gateway, which is also behind the money app Spiir, announces that they are one of the first companies in Denmark to land a payment Initiation Service Provider (PISP) license, after being the first to receive an account information service provider (AISP) license from the Danish FSA back in 2018.

Earlier this month the fintech company launched its new payment infrastructure that offers account-to-account payments to all kinds of industries, ranging from banks to retailers. With the new PISP license, Nordic API Gateway is set to build a new payment solution that can be integrated into any service. The intention is to provide more payment options in a payment landscape that’s changing fast in the coming years and has been primarily dominated by Visa and Mastercard.

This means that, in time, the company’s users and customers will be able to pay friends, build automatic savings and integrate easy check-out payments on top of Nordic API Gateway from all Nordic banks and later across Europe.

“We’re proud to be among the one of the very first companies in the Nordics to become a licensed PISP and AISP. It enables us to develop new and exciting features, and more convenient payment flows to the benefit of our clients across the Nordics. We want to become the go-to infrastructure when it comes to account-to-account payments. The PISP license also allows us to initiate payments on behalf of our large Spiir app user base, and help them manage everything regarding their money in one app. That adds huge value to our users,” ​ Rune Mai, CEO and Founder of Spiir & Nordic API Gateway, explains.

In addition, the company is ready to initiate payments for others by using their account-to-account payments infrastructure from Nordic API Gateway to deliver smooth payments for lenders, merchants, banks and others, essentially making it easier for third parties to build instant account-to-account payment services for both businesses and consumers. According to Mai, this next step in real-time payments will redefine the payment industry radically:

“With our open banking infrastructure, we’re able to provide real-time account-to-account payments, which will redefine the future of financial services. We’re looking to expand our array of fintech products with a simple payment method for all types of companies in the coming months. It’s predicted that instant bank transfers will become one of the most popular payment methods in the future, and we want to lead the way by modernising the payments infrastructure across Europe.”

Nordic API Gateway is already supporting major banks such as Danske Bank, Jyske Bank and DNB with their infrastructure and are close to announcing its first major client using their payment infrastructure in the Nordics. Later this year, it’s expected that Nordic API Gateway will expand its infrastructure to cover even deeper in the European market.  

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