ZAG licence

The term “ZAG licence” describes either a licence to provide payment services as a payment institution or a licence to provide e-money business as an e-money institution. Sometimes, registration as an account information service provider is also referred to as a ZAG licence. The term “ZAG licence” is therefore not very precise. For an analysis of which activities are covered by a ZAG licence, it is necessary to look at the respective licence in detail.