Here on PayTechLaw we regularly look at overviews of laws and supervisory documents, e.g. the summaries of the supervisory documents last year or the laws that payment and e-money institutions should be familiar with. The following mini-series aims to provide you with an updated overview about these types of documents. As we now have many, […]
Is it allowed to offer customers different methods of payment when they make bookings over the internet, depending on where they live? My podcast partner today, Matthäus, has recently published a blog entry on this topic (News on IBAN discrimination) which is well worth reading. The case we would like to consider in more detail […]
The instructions for the interpretation and application (IIA) of the German Federal Financial Supervisory Authority (BaFin) on the German Anti-Money Laundering Act are still quite new. BaFin published them at the end of last year, on 11 December. Peter already took a detailed look at the so-called IIA on PayTechLaw in January. During the […]
Recently I looked into the topic of licence types for payment service providers on PayTechLaw. In my blog post “May I or may I not? The licence types for payment service providers” I introduced the various licence types – and also created an infographic for those of you who prefer looking at visuals than […]
From 14 September 2019, strong customer authentication will be required for certain payment transactions. The EBA has now provided some commentary on what this means for SEPA mandates that are issued via remote access. In short, if the EBA were to prevail with its legal opinion, this would have a huge impact on online direct […]
Are you a fan of Great Britain or are you even a British citizen? Are you active in the payment industry? Are you afraid of a hard Brexit? Great, then we’ve got something for you. On 21/02/2019, the German Bundestag adopted the Act on Tax and Other Accompanying Measures for the Withdrawal of the United […]
Perhaps you’ve experienced this before? When talking to different people about what licence is required for payment services, you get a multitude of different answers: some will tell you something about an e-money licence that you need. Others think that a “small PSD licence” is entirely sufficient. And others are of the opinion that you […]
Do you know the type of questions where the answer depends on who you ask? An example of such a question is what constitutes a payment service. If you ask the legislator, the answer will be a more or less comprehensible but rather abstract catalogue of activities. If you ask a lawyer, he or she […]
Since the implementation of PSD2, or most likely even before, many companies have been preoccupied with one question: How, as a payment institution, do I get a BaFin licence? In this episode of PayTechTalk, we deal with all the important questions concerning permission applications. This is how the approval for a BaFin licence for payment […]
The German legislator transposed the requirements of the 4th EU Anti-Money Laundering Directive (AMLD 4) into German law on 23 June 2017. At that time, many market participants (including ourselves) were full of hope. The parties concerned wanted practical rules and, above all, more clarity. A good year later, many have become disillusioned. This certainly […]