Payment Services (PSPs/E-MoneyInstitutions/Agents)
Obtaining a Payment Service Provider (PSP) license
Are you planning to offer payment services as a regular occupation and would like support in obtaining authorisation as a payment service provider or applying for an exemption? Do you carry on an activity involving the transfer of funds and are wondering whether your activity falls within the scope of a payment service?
With over 10 years' experience working for the Autorité des marchés financiers (AMF), including examining applications for authorisation from regulated intermediaries and conducting audits of these players, the Firm ARAO AVOCAT can help you bring your business into line with regulations.
ARAO AVOCAT assists you in all your dealings with the "Autorité de Contrôle Prudentiel et de Résolution" (ACPR), from the start of your case to its conclusion, by preparing documentation tailored to your business model and advising you throughout the process.
Who is affected by the regulation on payment services ?
The payment services referred to in Article L. 314-1 of the Monetary and Financial Code essentially include:
- Services for depositing or withdrawing cash on a payment account and payment account management operations;
- The execution of payment transactions associated with a payment account: credit card payments, bank transfers and direct debits;
- Transfer of funds;
- Issuance of payment instruments and/or acquisition of payment orders;
- Payment initiation and account information services.
A payment institution license (credit institution, electronic money institution or payment institution) is required to perform these activities.
Moreover, the provision of certain services, such as the buying and selling of cryptoassets for euros or the operation of a cryptoasset trading platform may, if it involves the collection of funds on behalf of third parties, qualify as the provision of a payment service within the meaning of Article L. 314-1 of the Monetary and Financial Code and require PSP or PSP agent authorisation.
The regulations also provide for exemptions from payment services, which require approval from the ACPR. Other activities fall outside the scope of payment services (exclusive sales agent), and do not require ACPR approval or authorisation.
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Contact
For your project, you can contact me :
Email : a.raoul@arao-avocats.com
Telephone : +33 (0)6 84 01 59 92
Address: 17 rue Paul Lelong | 75002 Paris | France