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The Central Bank of Ireland grants Modulr an EMI licence

Wednesday 21 October 2020 08:04 CET | News

UK and Ireland-based fintech Modulr has secured an electronic money institution (EMI) licence from the Central Bank of Ireland for its Dublin-based entity, Modulr FS Europe Limited (638002), (hereafter referred to as Modulr Europe).

Modulr Europe was granted an EMI licence by the Central Bank of Ireland and plans to provide services to customers across the European Union.

Following business growth in the UK over the past four years, the newly granted EMI licence will enable the fintech to offer a suite of payments products, including its payments platform, through its API to EU markets.

The team at Modulr also brings its expertise of real-time payments to SEPA Instant, the euro’s instant payments scheme. Modulr will draw on its experience of Faster Payments to unlock the potential of the new scheme by providing access for European software companies, merchants, specialist banks and more.

Modulr is the Payments as a Service API platform for digital businesses. It integrates into any product or system. Modulr’s new type of payment accounts are built for businesses that need a new way to move money. Businesses can automate payment flows, embed payments into their platforms and build entirely new payment products and services themselves. All managed in real-time, 24/7 from one API.

 


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Keywords: The Central Bank of Ireland, Modulr, EMI, electronic money institution, licence, fintech, payments
Categories: Banking & Fintech | Payments General
Countries: United Kingdom
This article is part of category

Banking & Fintech