RevoluGROUP became the first Canadian company to be granted the banking license via the company’s Barcelona based wholly owned subsidiary RevoluPAY S.L.
Under the auspices of EU Directive 2015/2366, RevoluPAY is licensed by means of the said EU Banking Directive, administered by the European Commission as a payment service provider throughout the European Union (EU) and European Economic Area (EEA).
Beyond the borders of the 27 EU member countries, through bilateral banking agreements or analogous licensing, RevoluPAY will now pursue the rapid penetration of the North and South American Markets, Asia and, subsequently, the rest of the world.
The PSD2 directive's aim is to augment banking competition and engender participation in the payments industry from nonconventional banks, and to provide for a level playing field by harmonizing consumer protection and the rights and obligations for payment providers and users. The key objectives of the PSD2 directive are creating a more integrated payments market, making digital payments safer and more secure and protecting consumers.
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