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Q:

What’s a Third Party Provider (TPP)?

A:

A ‘Third Party Provider’ is an authorised online service provider that has been introduced as part of Open Banking. They exist outside of your relationship with your bank, but may be involved in the online transactions you carry out.

There are two types of Third Party Provider (TPP):

  • PISP – Payment Initiation Service Provider.
  • AISP – Account Information Service Provider.

A PISP allows you to make online payments without the need for credit or debit card details. These payments can only be made by your Bankline users if your Bankline Administrator has set up the required permissions through Bankline. All existing Bankline payment limits and controls such as Smartcard authorisation will still apply.

Within Bankline we’ll refer to these as ‘Third Party Provider payments’.

An AISP is an online service provider that can view specific information from your account such as balances and transactions that a Bankline user has consented to for a given period of time. This may result in an AISP being able to show you a consolidated view of your accounts across multiple banks. Once again, consent to share account information can only be provided by your Bankline users if your Bankline Administrator has set up the required permissions through Bankline.

Within Bankline we’ll refer to these as ‘Third Party Provider consents’.

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