What difference does it make if I use my own PISP license?

It's not necessary to have a PISP license to use the TrueLayer Payments API.

Here are some points noting the differences in each scenario:

I do not have a PISP license

• You may connect to the Payments API (subject to our internal due diligence and approval);
• You do not need PSD2 insurance;
• TrueLayer initiates payments on your behalf;
• "TrueLayer" is displayed in the bank's payment consent journey, as the licensed party initiating the payment.

I have my own PISP license

• You may connect to the Payments API (subject to our internal due diligence and approval));
• You need your own PSD2 insurance;
• You initiate payments;
• TrueLayer acts as a "technical service provider" (TSP) handling integration to banks;
• Your company name is displayed in the bank's payment consent journey;
• You will need to acquire eIDAS certificates for PSD2 roles from a Qualified Trust Services Provider (QTSP) who can issue such certificates.

Note that this is not precisely the same as different scenarios for integrating to the Data API depending upon AISP licensing. For more details on those scenarios, please see our regulatory FAQ section.