Expand your payment services with an EMI license

EMI (Electronic Money Institution) is a payment institution that is authorised to issue its own electronic money, distribute it in a virtual network and exchange it for fiat money of its customers.

The Electronic Money Institution licence is the right solution for payment service providers planning a wider range of services than just processing instant payments.

In order to register a company and obtain an Electronic Money Institution EMI licence, it is necessary to take into account the specifics of the project, the services offered and choose a jurisdiction that will help to achieve the desired result quickly and efficiently.

Significant experience in working with financial projects allows us to offer our clients a wide choice of countries for registration of payment systems in European countries. An e-money payment institution opens up great business opportunities for you both in Europe and abroad. An e-money institution licensed in one European Union (EU) member state opens up business opportunities to operate and provide services in all other EU/EEA countries, taking advantage of the single European financial market within the Single Euro Payments Area (SEPA).

The required authorised capital for an e-money company in the EU is €350,000. But a higher amount of capital may be required to ensure the protection of customer funds. The average time to obtain an e-money licence in the EU is 6 months from the date of incorporation.

Services provided by EMI (electronic money institution)

A licensed e-money institution provides the following payment services:

• place cash on a payment account
• to withdraw cash from the payment account
• performance of payment transactions, including transfers of funds on the payment account with the payment system of the payment services user or with another payment system: performance of acceptance-free debits, including one-time acceptance-free debits, performance of payment transactions with the use of a payment card or similar device and/or performance of credit transfers, including standing orders
• execution of payment transactions where funds are secured by a credit line for the user of payment services: execution of acceptance-free debits, including one-time acceptance-free debits, execution of payment transactions with the use of a payment card or similar device and/or execution of credit transfers, including standing orders
• issue and/or acquiring of payment instruments
• money transfers
• payment initiation service (PSD2 implementation)
• account information service (PSD2 implementation)
• Electronic Money issuance and protection of customer funds