GoCredible receives payment licence in the Netherlands

Wednesday 23 June 2021 09:27 CET | News

De Nederlandsche Bank (DNB) has granted payment institution GoCredible a payment service licence, according to the official press release. 

This licence was necessary for the growth of the fintech company and for expansion of the services abroad. GoCredible focuses on the fast-growing platform economy, from fresh products to used cars. The payments on these platforms are becoming increasingly complex. For instance, think of multi-split payments: a buyer pays for items from different suppliers in one checkout, which must be settled subsequently. Other examples are the handling of third-party funds or a substantial integration with back office-systems requiring specialist knowledge. GoCredible takes care of this for different platforms. 

Reaching this milestone is important for GoCredible and its clients because payment services are no longer limited to the Netherlands. Even more, the total amount of the payment transactions that GoCredible is allowed to process is no longer restricted.  

The licence has been granted for services that perform financial transactions - including transfers of funds - on the payment account of a user's payment service provider or of another payment service provider, and for services that issue or accept payment instruments. (These services are indicated in the DNB's register as licence types 3 and 5.) GoCredible is now also registered with the European Banking Authority (EBA).

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Keywords: central bank, fintech, platform
Categories: Banking & Fintech
Countries: Netherlands
This article is part of category

Banking & Fintech

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