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.
Parthenonos, 3, Flat 102
Dimos Aglantzia & Athalassas 2101