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aifinyo enters the payment market with BaFin's ZAG license

Wednesday 19 January 2022 12:39 CET | News

Germany-based Smart Billing Provider aifinyo’s subsidiary aifinyo payments has received a license for financial transfer transactions (ZAG) from the Federal Financial Supervisory Authority (BaFin). 

The fintech provides a platform for all elements of invoice and liquidity management, including factoring, fine trading, leasing, and receivables management. For aifinyo, the ZAG license is the basis for gradually expanding the existing smart billing platform with a wide variety of payment solutions. According to an aifinyo representative, the company’s aim is to make the processing, financing, and payment of invoices as simple as possible.

The company will expand this platform with payment solutions in the future. The wholly-owned aifinyo subsidiary aifinyo finance already has a factoring and leasing license, and Elbe Inkasso, also a wholly-owned subsidiary, has a debt collection license. To complete the offer, aifinyo also intends to apply for an e-money institute license, which should be used to expand the payment offer to include a business account with credit cards.


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Keywords: banking license, payment processing, e-invoicing, BaFin
Categories: Payments & Commerce
Companies:
Countries: Germany
This article is part of category

Payments & Commerce






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