What is a European payment institution license?

A Payment Institution is defined in the European Payment Services Directive (PSD 2 - Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on Payment Services in the European internal market) as a legal person that has been granted authorization in accordance with Regulation 18 of the European Communities (Payment Services) Regulation 2009 (putting an end to the banking monopoly on the provision of payment services) to provide and execute payment services throughout the European Community.

Payment Services do include:
• Services enabling funds to be deposited into or withdrawn from a payment account and the transactions required to manage such an account
• Execution of payment transactions associated with a payment account (card payments, credit transfers, as well as direct debits)
• Transmission of fund
• Issuance of means of payment and/or acquisition of payment orders

A Payment Institution is supervised by the Central Bank or equivalent of the country in which it is registered.

Lemon Way SAS is registered in France and therefore supervised by the Central Bank of France, ACPR (Autorité de Contrôle Prudentiel & de Résolution), responsible for supervising the banking and insurance sectors in France.

For more information on Lemon Way, don’t hesitate to take a look at our website, here

For more information on the the European Payment Services Directive 2, just take a look at the Lemon Way blog entry on PSD 2, here

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