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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

Legislative Area

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Asset management
Capital Requirements Directive
Markets in Financial Instruments Directive
Payment services

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