Select a legislative/policy area

ID 1070. E-money Back

Relevant provisions
Article 4 of Directive 2007/64/EC

Question
Dear Sirs,

Is it allowed for a payment institution, which provides acquiring services for the merchants, to accept on behalf of the merchants e-money which is issued outside of EU (in a third country)? The services of a payment institution would also include redemption of e-money from its issuers and further transfer of cash to the merchants.

Answer


Date
Submitted on 30/08/2011