Licence routes
Choose the regulatory route that matches the business model.
Route selection depends on actual activities, funds flow, issuance, payment execution, transaction values, customer funds, geographies and operating structure — not on a label.
Compare routes
Route at a glance.
| Route | Regulatory status | Initial capital | Ongoing own funds | Safeguarding | Genesis |
|---|---|---|---|---|---|
SPI Small Payment Institution | Registered (not authorised) | No initial capital requirement | No ongoing own funds requirement | Required where relevant funds are held | Available |
API Authorised Payment Institution | Authorised | €20,000 / €50,000 / €125,000 depending on services provided | Method A, B or C as directed | Mandatory for relevant funds | Available |
SEMI Small Electronic Money Institution | Registered (small EMI) | No initial capital requirement | No ongoing own funds requirement | Required for e-money float and relevant funds | Available |
AEMI Authorised Electronic Money Institution | Authorised | €350,000 initial capital | Method D on outstanding e-money, plus payment-service requirements | Mandatory for e-money float and relevant funds | In Development |
AISP Account Information Service Provider | Registered (RAISP) for AIS-only firms | No initial capital requirement (AIS-only) | No own funds requirement; professional indemnity insurance required | Not applicable — no customer funds held | In Development |
PISP Payment Initiation Service Provider | Authorised (PIS is an activity under an API permission) | €50,000 initial capital (PIS-only) | Initial capital held on an ongoing basis; PII also required | Not applicable where no relevant funds are held | In Development |
Route indicators are informational and require confirmation against the full business model and applicable law.
Explore each route
Built route by route.
Small Payment Institution
Early-stage or lower-volume payment firms below the registration thresholds.
Authorised Payment Institution
Payment firms operating above the SPI threshold or seeking passporting-grade standing.
Small Electronic Money Institution
Lower-volume e-money issuers below the small-EMI threshold.
Authorised Electronic Money Institution
E-money issuers above the small-EMI threshold or scaling beyond it.
Account Information Service Provider
Open-banking firms that read account information but do not hold customer funds.
Payment Initiation Service Provider
Open-banking firms that initiate payments on a customer's behalf.
Future routes
Designed for the routes ahead.
Genesis is built to extend to further FCA licence routes and jurisdictions. Support status for every route is shown honestly and only marked available once implemented and certified.
Not sure which route fits your business?
Start a Genesis assessment and we will structure the likely route from your actual activities and funds flow.