Payconiq receives the first Payment Initiation Service license in Luxembourg

Tuesday 10 September 2019 00:05 CET | News

Payconiq has announced it is the first of the payment companies headquartered in Luxembourg to obtain a Payment Initiation Service (PIS) license.

Under the EU Payments Directive (PSD2), as Payment Initiation Services becomes a regulated activity, it opens possibilities for providers, like Payconiq International, to operate across the EU and to compete on an equal basis with other regulated players in the market.

As a PIS provider, Payconiq International allows consumers to pay for their purchases and send money to their contacts through their smartphones, straight from their bank account. The users authorise Payconiq to send a payment order to their bank, which executes it and Payconiq informs the merchant of the successful transaction.

For more information about Payconiq, please check out a detailed profile of this company in our dedicated, industry-specific online company database.

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Keywords: Payconiq, Luxembourg, Payment Initiation Service, PIS license
Countries: World

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