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 […]
On 28 March 2018, the European Commission presented a proposal for an amendment to Regulation (EC) No. 924/2009 on cross-border payments within the EU (EU Fees Regulation). With the amendment, the Commission wants to create new information obligations regarding currency conversions. One of the Commission’s aims is to address some of the problems related to […]
On 25 January 2018 the European Commission published its report on the implementation and impact of the 2nd E-Money Directive (2009/110/EC; EMD2). In its report, the Commission, inter alia, looks at the implementation of EMD2 and its impacts. Additionally, it deals with the effects of PSD2 on the e-money business and the interrelationship between EMD2 […]
On 29 November, BaFin published the long-awaited, newly amended guidance note on the German Payment Supervisory Act (PayTechLaw already reported on the BaFin guidance). In its note, BaFin not only addresses the changes that are made due to the transposition of PSD2. It also deals with payment transactions on online platforms and marketplaces that bring […]
On 29 November 2017, BaFin issued a long-awaited new guidance note on the German Payment Services Supervisory Act (“ZAG”). The focus of the BaFin guidance note is not only changes triggered by the transposition of PSD2. BaFin also deals with its administrative practice with regard to legal issues that already form part of the […]