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Offering of Wallet & Payment Services

Anyone who wants to offer wallet and payment services to customers in the EU requires a corresponding EMI/PSP license. This licensing is regulated throughout Europe by the EU Commission (EU Payment Services Directive 2015/2366 as amended on 25.11.2015) and must be transposed into national law by the individual EU member states. The application and authorization itself differ in nuances in the individual EU states.

However, there are mandatory rules for an EMI/PSP License – such as, e.g. the necessary capitalization of € 350,000 – which must always be available and is the same in all EU and EFTA countries. Depending on the type of business model, smaller licenses can also be applied for, so-called SEMI (Small E-Money Institution) or SPSP (Small Payment Service Provider), for which tiny amounts are then to be deposited. It is, therefore, essential to think carefully about which license is required and, if necessary, to adapt the business model.

It does not always have to be an EMI/PSP license – often, a SEMI / SPSP license is utterly sufficient if you do not need EU passporting rights. In such a case, the license will only be valid in the country in which it was requested. Unfortunately, more and more countries are restricting the allocation of e-money licenses or payment service provider licenses due to strict anti-money laundering laws. Finding suitable and willing banks to take on account relationships is also challenging.

So, expect an application time of at least 6-8 months for complete documents, which is also plausible. So do not think if someone promises you a license for a small amount in record time. For example, BaFin (the Federal Financial Supervisory Authority) in Germany granted Concardis a license in a record-breaking four months. However, this company is not precisely a startup and has sufficient financial and personal substance.

Where to Apply?

We can apply for licenses in every EU member state, Switzerland, and Liechtenstein. Due to the current situation, we recommend applying for EMI/PSP licenses in the Czech Republic, Slovakia, Lithuania, and Ireland. All four locations provide the necessary banking infrastructure, unlike Malta which considers EMIs as competition as in Cyprus or Luxembourg.

We have offices in all recommended locations and speak multiple languages, including French, Czech, and Greek, to handle local issues. Please talk to us about your strategic plans.

Simply contact us via our contact form and we will get in touch shortly.

When to use EMI/PSP-Licenses?

Applicants use EMI/PSP-Licenses typically, but not exclusively, when they want to:

  • Acceptance of customer money via bank transfer, credit card or even in Cryptos electronically – by private companies and companies from EU states and Offshore
  • Processing / transfer of funds on behalf of third parties to third parties
  • Direct Debits for customers
  • No maximum number of customers or maximum amounts that can be accepted per customer – if license itself is not limited
  • Issuing debit cards and booking money on debit cards like Mastercard, Visa or Diners and Amex
  • Offering payment services to third parties
  • Free custom definition of account management / transfer fees etc.
  • Merchant Account Openings for third party payment processors
  • Converting FIAT – various currencies – into electronic crypto currency such as Bitcoin, Ether, Litecoin and others
  • Offering Wallet Services
  • Act as Payment Services Provider
  • Issuing E-Money
  • Issuing Reward Cards

Whether it is an EMI or PSP-License – Passporting throughout the EU can deliver high value.

Request A Call Back

Speak to us to find out more about EMI/PSP or Security Dealer Licensing with EU-Passporting or in Switzerland/Liechtenstein.

Our Funding Solutions for EMI & PSP

TOKEN Funding for EMI/PSP

This modern way of funding has been all over the media in recent years. Find out if your project is suitable for such a funding solution. With us, you can rely on expert advice and years of experience to successfully implement your project.

Bespoke Project Finance

No project is alike and therefore requires a precise and individual approach. We offer just that – an assessment of each and any project to find a scalable funding solution according to needs. Whether Tokens or Venture Capital – Venture Debt.

Start-Up Finance - Asset Based

Some Start-Ups require smaller amounts of funding and have some kind of assets available, that might be used as collateral. Or they just need technical equipment, we may finance through a Leasing or Hire Purchase contract.

Crowd Funding Solutions

Crowd Funding might be an interesting alternative to raise the capital much needed. We offer sophisticated and bespoke solutions to our customers at reasonable, flexible terms and conditions to highly competitive rates.

We Will Show you the Way How to Succeed.