The questionable figures to the German payment market of the German Council of Economic Experts
The new annual report on the assessment of macroeconomic developments 2024/2025 by the German Council of Economic Experts…
Deposit from the credit institution and e-money (only) from the e-money institution?
Digital means of payment are more present in public discourse than ever; not least due to the new…
Material legal framework that payment service providers in the area of regulatory law need to know
We already provided you with overviews of the material legal provisions that are relevant for payment service providers…
Minimum risk management requirements for ZAG institutions – ZAG-MaRisk
On 27 May 2024, the German Federal Financial Supervisory Authority (“BaFin”) published the final version of its circular…
Is factoring now subject to insurance tax?
In the recent past, we have increasingly observed that the Federal Central Tax Office (BZSt) wants to subject…
PSD3 and PSR: What changes are there for telecommunication-specific payment transactions?
The proposals for the Payment Services Directive 3 (“PSD3”) and the Payment Services Regulation (“PSR”) continue to take…
ESA’s Final Report: SFDR RTS 2.0
Introduction The European Union wants to achieve net-zero CO2 emissions by 2050 – among other things with the…
Minimum requirements for risk management at ZAG institutions (2)
Update: The ZAG-MaRisk was published on May 27, 2024 after an extended consultation. According to the BaFin’s letter…
Minimum requirements for risk management at ZAG institutions (1)
Update: The ZAG-MaRisk was published on May 27, 2024 after an extended consultation. According to the BaFin’s letter…
Still a payment service or already the issuance of e-money?
This is the question currently dealt with in front of the European Court of Justice in Case C-661/22.…
E-money under PSD3 and PSR
On June 28, 2023, the EU Commission presented proposals for a Payment Services Directive 3 (“PSD3“) and a…
The metamorphosis of a payment instrument into a payment app
If you “google” the term payment app, you come across Apple Pay, Google Pay, Payback Pay, Bluecode, PayPal…
The EU Commission’s proposals for PSD3 and PSR – Limited Network and Limited Range
On 28.6.2023, the EU Commission presented proposals for a Payment Services Directive (“PSD3“) and a Payment Services Regulation…
European Commission publishes a Proposal for a Regulation on the establishment of the digital euro
On June 28, 2023, the European Commission published a proposal for a regulation (“dEUR Regulation”) on the establishment…