What is the difference between National Competent Authority (NCA) authorisation and registration?

Whether you need to be 'registered' or 'authorised' by the National Competent Authority (<a href="/glossarycollection/national-competent-authority" style="color:#48277C;" target="_blank" title="National Competent Authority"><u>NCA</u></a>) depends on the service you are planning to provide and the size of your business. If your business does not qualify as a 'Small Payment Institution' or 'Small Electronic Money Institution', or it provides other services aside from Account Information Services (<a href="/glossarycollection/account-information-service" style="color:#48277C;" target="_blank" title="Account Information Service"><u>AIS</u></a>) chances are you will need to be authorised.