PAYMENT SERVICES LICENSING

Getting your payment services licensed is a must, under increasingly strict regulations across the EU and globally, whether the company wishes to accept and provide electronic payments through credit cards, bank-based payments or provide gateways for multiple Payment Services Providers. Some of the most popular payment services are:

  • The issuing Electronic Moneyand providing E-Wallets

  • Money Transmission Services

  • Payment Processing Services

  • Money Exchange Service

WHAT CAN FAI DO?

  • ICAAP Design, Preparation, Implementation and documentation
  • Ensuring thoroughness and fairness to the nature, scale and complexity of the Firm’s activities
  • Identifying and assessing all material risks and controls to mitigate risks
  • Identifying the amount and quality of internal capital in relation to risk profile, strategies and business plan and create a proposal for a capital allocation
  • Provision of ICAAP training to relevant employees and Senior Management
  • ICAAP follow-up through Supervisory Review and Evaluation Process of CySEC