“How safe is my money?” Safeguarding of customer funds held by payment and e-money institutions
Since 2020 at the latest, many customers of payment and e-money institutions (PSPs) have been concerned with one…
The e-money business | FinTech online course #4
E-money transactions are defined as the issuance of electronic money. It is therefore essential to know what e-money…
Commercial Agent Exemption | FinTech online course #6
After the last few articles dealt with the various payment services, this one focuses on an exception. Even…
Limited Network and Limited Range | FinTech online course #7
16In the context of payment services and e-money, many speak of Limited Networks and Limited Range. This refers…
Authorisation procedure in accordance with the ZAG | FinTech online course #17
6In case you wish to carry out an e-money-business or to provide banking, payment, or financial services, you…
Requirements for maintaining a BaFin Licence | FinTech online course #18
In our yesterday’s blog post, we dealt with the question how to obtain a BaFin licence for payment…
Outsourcing | FinTech online course #19
The term outsourcing appears in several laws, e.g. in section 26 ZAG, section 25b KWG and section 17…
BaFin Guidance Notice on planned reforms regarding managing directors pursuant to the KWG, ZAG and KAGB (part 1)
BaFin is currently working on updating its “guidance notice on managing directors pursuant to the KWG, ZAG and…
Legal, illegal, who cares? – Sanctions for payment services and e-money business without a licence
As part of our daily advisory work, we often have to consider whether a license is required for…
Finally: vouchers and prepaid cards are still considered payments in kind pursuant to the German Payment Services Supervision Act (ZAG)
Amendments applicable to vouchers and prepaid cards Last year, I reported on the conditions under which vouchers &…