Don't know your ASPSP from your elbow?... find out more below!

Open Banking uses various accronyms, the following provides a summary of the principal terms used:

Term Description
AISP Account Information Service Provider. Provide Access to account balances for example.
ASPSP Account Servicing Payment Service Provider. The Bank or Payment Institution.
CMA Competition and Markets Authority - agency responsible for the rollout of Open Banking in the UK
PISP Payment Initiation Service Provider. Nuapay acting as a TPP provides Payment Initiation Services.
PSU Payments Service User. This is the user of a payment service and generally refers to the payer.
TPP Third Party Providers / Trusted Third Parties A party other than an ASPSP that provides payment related services. Nuapay is a TPP