general Comparison of EMI and PI

Services

Electronic money institution (EMI)

Payment institution (PI)

Issuance and redemption of electronic money

+

-

Receiving and holding clients' funds without instructions for payment initiation

+

-

Payment services

+

+

Currency exchange services

+

+

Lending services

Necessary additional registration for consumer credit providers

Necessary additional registration for consumer credit providers

Receipt of deposits

-

-

Investment services, clearing, services related to securities emissions

-

-

License valid across the European Economic Area (EEA) allowing to provide services in any other EEA state without the need for further authorization from that country

+

+