UK: RBK Money receives payments services authorization

Wednesday 11 December 2013 10:31 CET | News

RBK Money, a Russian electronic payment platform, has been granted the status of an Authorized Payment Institution by the Financial Conduct Authority (FCA) in UK.

The authorization enables RBK Money to offer its payment services across all the EU member states under the Payment Services Directive (PSD). RBK Money will be regulated similar to other European Payment Institutions in relation to their capital adequacy, anti-money laundering procedures and data-protection, providing assurance to its clients and partners.

RBK Money is the first payment services company from Russia to obtain such credibility on the international market. The company also operates its own e-money license in Russia since 2012, which enables RBK Money to offer international businesses access to the Russian market. Cross-border e-commerce sales in Russia are estimated to grow up to 100% in 2013 compared to the previous year.

RBK Money is a payments platform for online businesses, which mixes card payment interfaces with alternative payment methods for access to the emerging markets. Users can make payments at online stores with the help of RBK Money e-wallet, pay for communication services, make money transfers, as well as withdraw funds to a bank account.

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Keywords: RBK Money, Authorized Payment Institution, Financial Conduct Authority
Categories: Payments & Commerce
Countries: World
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Payments & Commerce

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