Licensing

Advapay offers comprehensive consulting services to develop turnkey payment business solutions

  • choice of jurisdiction
  • business model development
  • assistance in company registration and obtaining the licenses
License acquisition
  • Choice of jurisdiction
  • Business model development
  • Assistance in company registration and obtaining the licenses
  • Development of internal regulations, including the AML compliance manual etc.
  • Business plan development
  • Assistance in staff recruitment, office administration and maintenance
License management
  • License extension
  • Change of the owner
BACKGROUND

Since 2009, payment services in the EU have been regulated by Payment Service Directive 2007/64/EC (PSD 64).

In 2011, the E-money directive 110, which regulates the activities of electronic money issuers, entered into force. Thus, new types of players appeared on the payment services market: electronic money institutions (EMI) and payment institutions (PI).

In 2018, all EU member states adopted measures to comply with the new version of the Payment Services Directive, PSD 2, which offers payment institutions new business opportunities and requires that banks to cooperate with PSPs.

AdvaPay