Payment services and electronic money

Payment services such as credit transfers, money remittance, direct debits, issuance of electronic money, acquiring and processing of card transactions for merchants, initiation of payments, etc. shall be provided in the Slovak Republic and the European Economic Area (EEA) only by payment services providers such as banks and payment institutions (PI). Issuance of electronic money is reserved only for issuers of electronic money such as banks and institutions of electronic money (EMI). Information from a payment account can be in consolidated form accessed by an account information service provider (AISP) and a bank. All entities are regulated by an act on payment services which was transposed into the Slovak legal system from PSD2 and EMD. Authorization for their activities or registration of such entities in the Slovak republic is issued by the National Bank of Slovakia (NBS). NBS is liable according to the Financial Market Supervision Act for the supervision of entities mentioned above.

In the area of ​​payment services, some entities do not need authorization or registration, because the scope of their activities is limited (for example provider of electronic communications networks or services or limited provider). In relation to the NBS, they only fulfil their reporting obligations and provide their services based on exceptions from the Payment Services Act.

This page and related subpages summarize introductory information on payment services, supervision, and an overview of the procedure for obtaining authorization or registration according to the Payment Services Act. The information may not be complete; the primary and main source of information is the relevant legislation.