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We appreciate when people and companies use the information we produce. Thank you. What we ask is that when doing so, you ensure that we are credited in a prominent part of your post or visual (not in a comment or at the end of the post). Introduction Fintech Ireland is delighted to present the top ten EEA for regulated payment services (“Regulated Fintech”) as at 30 September 2025. To be more specific, this definition captures authorised emoney institutions, authorised payments institutions and registered account information services providers (but not CASPs/VASPs). Over the coming days we will be releasing more data on fintech authorisations/licences in the EEA, but for today we concentrate on the traditional payment services market. We like to thank CompliReg a leading provider of advice to firms seeking emoney, payments and MiCAR authorisations for helping pull this information together. Its extensive experience working across Europe and the UK is a big help in finding people to discuss our reports before they are released. Read the full blog at https://complireg.com/blogs--insights.html The last occasion we looked at the top 10 Regulated Fintechs was back on the 1 April this year. It was very interesting to look at developments in the EEA market over the past six months. What we have seen is static growth - just a 1% increase from 1,169 in April to 1,181 in September. The net difference of 12 Regulated Fintechs comprises of a net increase of 3 x emoney, 12 x payments and decrease of 3 x AISPs. This leaves us with 337 authorised emoney firms, 747 authorised payments firms and 97 registered AISPs. Who makes up the top 10? The top 10 jurisdictions based on the number of Regulated Fintech in order are: Lithuania (106), France (102), Germany (94), The Netherlands (88), Spain (80), Sweden (78), Malta (58), Ireland (57), Poland (56) and Italy (55). These countries comprise circa 65.5% of the total number of Regulated Fintechs in the EEA. While the countries comprising the top 10 remains the same, the rankings within the 10 has changed. Lithuania, France and Germany stay at #1, #2 and #3 respectively. The Netherlands has leapfrogged Spain taking the #4 position. The biggest mover within the top 10 is Malta, which rose from #10 position to #7. If you are reading this post and saying to yourself that you know you read of certain countries announcing new authorisations/registrations in the past 6 months, don’t forget that some firms also have their authorisations revoked or voluntarily withdrawn. Without analysing too much detail, one reason why Poland slipped from 7th to 9th is because of the large number of AISPs which were de-registered there in the past half year. Is there any threat to the current status quo of the Top 10? Sitting outside the top 10 and not quite within striking distance are Finland #11 (44), Cyprus #12 (41), Norway #13 (38), Belgium #14 (37) and in equal 15th both Czech Republic and Denmark with 33 each. We like to thank CompliReg a leading provider of advice to firms seeking emoney, payments and MiCAR authorisations for helping pull this information together and our friends at our Family of Fintech Nations for supporting this initiative (FintechLithuania.com, FrenchFintech.com, NetherlandsFintech.com, FintechEspana.com, FintechMalta.com, FintechIreland.com, FintechCyprus.com, FintechLatvia.com. No doubt over the coming days each of these will promote their own jurisdictions based on this report and again when we release some new MiCAR Authorisation facts and figures. If you found this useful, you know what to do. Please go https://www.linkedin.com/posts/peteroakes_fintech-micar-activity-7379541156264566784-mdPy and like the post, reshare the post and/or comment. The spread of emoney versus payments institutions Of Lithuania’s total of 106 Regulated Fintechs 70% (71) comprises emoney firms, with 32 payments firms and just 3 AISPs. In the past 6 months Lithuania’s population of emoney firms and payments firms has decreased by (net) 3 and 1 respectively. Meanwhile France’s bevy of Regulated Fintechs is skewered towards payments institutions. These make up 67% (68) of its total of 102. While Lithuania has the largest number of emoney firms authorised, Germany has the largest number of payments firms at 83, representing 88% of its total of 94. It is difficult to see the logic of why there is a somewhat less evenness of the emoney and payments firm split across all member states. There appears to be a lack of consistency across the EEA on defining when a company should be an emoney firm versus a payments firms. Malta Malta certainly stands out as a jurisdiction growing its Regulated Fintech base. It now sits at position #7. Yet while jumping three places from number 10 in the past 6 months it did so by merely increasing the number of net emoney firms from 34 to 37 – that’s right, by authorising 3 firms. When one throws in the number of MiCAR authorised firms into the definition of ‘Regulated Fintech’ expect to see Malta reach far loftier heights. Fintech Malta is working on a new Map for issue shortly. See www.FintechMalta.com and check out the event planned for 23 October 2025! Cyprus Cyprus saw a net increase of one firm. Fintech Cyprus is working on a new Map for issue shortly. www.FintechCyprus.com The Netherlands The Netherlands increase the number of Regulated Fintech by a net increase of 4 x emoney firms and 5 payments firms. Its website will be updated shortly with its first Fintech Map. Keep an eye on it. www.NetherlandsFintech.com Luxembourg Luxembourg’s overall net number of Regulated Fintech stayed steady 25. However it has commenced to authorise crypto-asset service providers. It is updating it Fintech Luxembourg Map, so keep an eye on www.FintechLuxembourg.com Ireland Ireland has arguably been viewed as one of the toughest jurisdictions within the EEA to obtain a fintech licence. Its regulator makes no apology for that and is arguably concerned about regulatory arbitrage across the EEA and in the past a race to the bottom by certain Member States in their approach to authorisations. Fintech Ireland recently released its Map of 88 fintechs which have a licence in Ireland. That Map includes emoney, payments, crowdfunding, VASPs and CASPs. Find that Map at https://fintechireland.com/news-insights/irelands-central-bank-has-issued-88-fintechs-licences-new-map-released-thanks-to-compliregcom. And don’t forget Fintech Ireland is hosting its 2nd Annual Fintech Ireland Summit on Thursday 27th November 2025. It is a great opportunity for the indigenous and international fintechs to gather under one roof. Get your tickets at www.fintechirelandsummit.com  Fintech Region Family Our Fintech Region Family also comprises of - Lithuania (www.fintechlithuania.com), Croatia (www.fintechcroatia.com), Latvia (www.FintechLatvia.com), France (www.FrenchFintech.com), and Spain (www.FintechMalaga.com and www.FintechEspana.com)
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