PI License
A Payment Institution (PI) License is necessary for providing payment services. A payment Institution license enables a financial firm to conduct payment transactions, money remittances, and direct debit/credit transfers, among other activities.
Overall, a Payment Institution License requires the following:
- a strong position and reputation in the financial ecosystem;
- an adequate risk management framework;
- a safeguarding account;
- regulatory compliance during the whole cycle of operations.
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