Account servicing payment service provider
The provider that provides and maintains the payer's payment account, typically the customer's bank.
Under PSD2, an account servicing payment service provider, or ASPSP, is a payment service provider providing and maintaining a payment account for a payer, typically the customer's bank. In open banking it is the party that must give authorised third parties secure access to the account and that authenticates the customer. For agentic payments it is the last line of control, because it executes the payment and can check authentication, limits and fraud signals before money leaves the account.
Agent Minute explains this term on 20 November 2026.
Related terms
Payment accountAn account held in the name of one or more payment service users and used to execute payment transactions.Payment initiation serviceA service that initiates a payment order at the user's request from an account held at another provider.Third-party provider (TPP)The common name for providers that access accounts held elsewhere, such as account information and payment initiation providers.Strong customer authenticationAuthentication using two or more independent elements from knowledge, possession and inherence.