Google gets payments licence in Ireland

Monday 7 January 2019 13:06 CET | News

Google has been granted an authorisation pursuant to Regulation 18 of the European Union (Payment Services) Regulations 2018, under the PSD2.

There aren’t a lot of details beyond the ability to issue and acquire payment transactions.

However, Google is making a big push in Europe for the paytech space because last month the Bank of Lithuania granted Google Payment an electronic money institution licence, authorising it to issue and redeem electronic money as well as provide payment services.

Google Payment is part of Alphabet (Google’s parent company), and will be able to issue electronic money and provide payment services to ensure operation of its marketplaces across Europe, alongside working on other payment services for consumers within the European Economic Area, including Lithuania.

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Keywords: Google, payments, licence, Ireland, PSD2
Countries: World