What is a Card Based Payment Instrument Issuer (CBPII)?

A CBPII is a Payment Service Provider (<a href="/glossarycollection/payment-service-provider" style="color:#48277C;" target="_blank" title="Payment Service Provider"><u>PSP</u></a>) that offers a card-based option for its customers to initiate payments from an account held with an Account Servicing Payment Service Provider (<a href="/glossarycollection/account-servicing-payment-service-provider" style="color:#48277C;" target="_blank" title="Account Servicing Payment Services Provider"><u>ASPSP</u></a>). This means its customers can use the card to pay for goods and services directly from their bank account.