A payment bank charter is a type of state-issued license that allows companies to move money on behalf of others—legally and directly—without relying on third-party banks or patchwork partnerships. These charters are designed specifically for companies engaged in digital wallets, remittances, merchant acquiring, and other forms of non-depository payment processing.

In most cases today, companies that want to operate in the U.S. payments system must either:

• Become a full-service bank (expensive, slow, heavily regulated),

• Or “rent” access through sponsor banks or licensed partners (often costly, restrictive, and operationally fragile).

A payment bank charter offers a third path: streamlined, state-regulated access to Fed clearing and payments infrastructure, without the burdens of taking deposits or issuing loans.

How Does It Save Time and Money?

• Fewer intermediaries: You’re no longer dependent on sponsor banks that control your accounts and approvals.

• Lower cost of funds: You keep more of your revenue and improve float management.

• Regulatory certainty: Instead of navigating 50 state laws or vendor relationships, you work under a single supervisory model.

Policy Momentum: Nevada and Georgia

Appliant Advisors is at the forefront of the most promising charter reform efforts:

• Nevada’s AB 500: Recently passed out of committee and expected to receive a final vote in May or June, AB 500 creates a modern state payment institution charter—one of the most innovative and actionable frameworks in the U.S.

• Georgia’s charter: Enacted over a decade ago but never implemented due to structural gaps. Appliant Advisors tracks and advises on its potential for reactivation.

• Texas and other edge-case states: We evaluate and leverage state-specific opportunities to help clients avoid unnecessary federal licensing or multistate MTLs.