What do I need to know about financial institution licenses for Payment Service Providers?

For a payment company, PI or EMI authorization today means months of expectations. We talked to the customers of eComCharge (white Label Payment Gateway tenants) who have already received European licenses, and who also await obtaining one in other jurisdictions, and here is a review for those who just thought about it. Naturally, it is not a very detailed one, as authorization requires a lawyer.

The most popular types of payment licenses in Europe

To date, European payment companies covet one of the two authorization types relating to the Financial Institution and issued under the PSD2 regulation: PI (Payment Institution) and EMI (Electronic Money Institution). Read more…