What types of services do Third Party Providers (TPPs) provide?
With your consent, FCA Authorised Third Party Providers can allow you to see all of your bank account information in one place, for example in a mobile app or online. These services can also be used to pay for things online, as an alternative to using your debit or credit card.
You might see these services being provided by companies you recognise, such as high street banks, or by other companies who are not banks. There are a number of companies who have provided these services for some time in the UK, but they are only regulated from 13 January 2018 onwards.
You may see these services referred to as Account Information Services (AIS) or Payment Initiation Services (PIS).